Finolex Cables Limited to Challenge GST Demand over ITC Mismatch and E-Way Bill Differences

Finolex Cables Limited has informed the National Stock Exchange of India and BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations, 2015), that it has received an order from the Additional Commissioner, Central GST, Dehradun. reported, Uttarakhand, dated March 31, 2026.

Background of the case

The order issued by the Additional Commissioner, Central GST, Dehradun, confirmed the demand made under the show cause notice, and the company decided to challenge the order. The show cause notice was issued based on the mismatch of ITC, the difference of e-way bills reported and the late payment to the creditors. The company said the order appears to have been issued without proper consideration, and the company will file an appeal before the Appellate Authority against the said order.

Key detail of Order

Financial Impact

The total tax demand was reported to be Rs 294,609,345, which includes tax of Rs 294,422,806 and a penalty of Rs 186,539. The company said it does not have a major impact on operations.