Finolex Cables receives ₹22 Crore GST demand order from Chandigarh tax authority
Finolex Cables Limited has received an order dated 20.12.2025 from the Commercial Tax Officer, Ward-5, Chandigarh, concerning a demand for GST for the Financial Year 2021-22. The order, received by th...
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Why is Finolex Cables Limited in the news today?
Finolex Cables Limited (FINCABLES) is in the news due to the company has received a tax demand order, which is a negative event. however, the company states it does not have a major impact and has the option to appeal, balancing the negative aspect.
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Finolex Cables receives ₹22 Crore GST demand order from Chandigarh tax authority
December 23, 2025, 11:25 AM
Top Queries to Ask About Finolex Cables Limited
Finolex Cables Limited has received an order dated 20.12.2025 from the Commercial Tax Officer, Ward-5, Chandigarh, concerning a demand for GST for the Financial Year 2021-22. The order, received by the company on 22.12.2025, confirms a demand under a Show Cause Notice related to a mismatch in Input Tax Credit (ITC) and other issues.
The alleged contravention pertains to the company taking credit for which the supplier allegedly uploaded different HSN codes than those used by the company. The total tax demand is ₹22,00,51,844/-, comprising Tax of ₹11,82,52,691/-, Interest of ₹8,99,23,883/-, and Penalty of ₹1,18,75,270/-.
The company has the option to file an appeal before the Appellate Authority. Finolex Cables stated that this demand is not expected to have a major impact on the company's operations.
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