Finolex Cables receives CGST Goa order for ₹15.98 Lakhs, impact low
Finolex Cables Limited (FCL) has received an order dated December 26, 2025, from the Superintendent, Range-IV, Division-IV, CGST Goa. The order confirms a demand under a Show Cause Notice concerning i...
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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 an order from cgst goa for a tax demand and penalty. while the company can appeal, the immediate financial impact is stated to be low. the sentiment is neutral as it's a regulatory matter with an option for appeal.
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Finolex Cables receives CGST Goa order for ₹15.98 Lakhs, impact low
December 27, 2025, 06:50 AM
Top Queries to Ask About Finolex Cables Limited
Finolex Cables Limited (FCL) has received an order dated December 26, 2025, from the Superintendent, Range-IV, Division-IV, CGST Goa. The order confirms a demand under a Show Cause Notice concerning ineligible Input Tax Credit (ITC) availed during the financial years 2018-19 to 2022-23.
The alleged contravention pertains to GST credit taken by the Company on services availed from the Depositary and Register and Transfer Agent, which is deemed ineligible. The total tax demand, including penalty, amounts to ₹15,98,544 (Tax: ₹7,99,272, Penalty: ₹7,99,272).
The company has the option to file an appeal before the Appellate Authority. Finolex Cables stated that this demand does not have a major impact on the company's operations.
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