Tax & Penalty22 May 2026, 05:31 pm
Finolex Cables: Appeal Rejected; Faces ₹12.29 Lakh Tax Demand
AI Summary
Finolex Cables Ltd received an order from the Additional Commissioner, Grade-II Appeal, Lucknow, rejecting the company's appeal against a GST return scrutiny for FY 2020-21. The authority upheld the original order, citing a mismatch of ITC and credit notes. This results in a tax demand of ₹12,28,985, including tax, interest, and penalty. Finolex Cables retains the option to file an appeal before the Appellate Authority. The company believes this demand will not have a major impact on its operations.
Key Highlights
- Finolex Cables' appeal against GST return scrutiny for FY21 was rejected.
- The order was issued by Additional Commissioner, Grade-II Appeal, Lucknow.
- The rejection pertains to a mismatch of ITC and credit notes.
- The tax demand amounts to ₹12,28,985, including tax, interest, and penalty.
- Finolex Cables has the option to appeal the order before the Appellate Authority.
Price Impact
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