Finolex Cables receives GST order for input tax credit mismatch

Finolex Cables Limited informed stock exchanges on December 22, 2025, about an order received from the Dy. Commissioner - GST, Lucknow, Uttar Pradesh. The order confirms a demand under a Show Cause Notice issued for a mismatch in Input Tax Credit (ITC) during the financial year 2021-22, alleging the company took excess credit. The communication was received via email on the same date.

The total tax demand outlined in the order amounts to Rs. 22,57,609/-. This figure comprises a tax component of Rs. 12,55,793/-, interest of Rs. 8,56,450/-, and a penalty of Rs. 1,45,366/-. Finolex Cables stated that the option to file an appeal before the Appellate Authority is open to the company.

Despite the demand, Finolex Cables asserts that this issue is not expected to have a major impact on the company's operations. The disclosure adheres to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.