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

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

Particulars	Details
Company Name	Finolex Cables Limited
Order Received	31.03.2026 (Through Email)
Authority	Additional Commissioner Central GST Dehradun, Uttarakhand
Nature Of Order	Demand Confirmed Under Show Cause Notice
Issue 1	ITC Mismatch
Issue 2	Difference in E-Way Bills
Issue 3	Late Payment To Creditors
Tax Demand	Rs 29,46,09,345
Tax Amount	Rs 29,44,22,806
Penalty Amount	Rs 1,86,539
Impact	Not Having a Major Impact On Operations
Next Step	Company Will File Appeal Before Appellate Authority

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.