Finolex Cables Limited — Important, 27-02-2025: General Updates

The Assistant Commissioner of CGST has imposed several tax demands on Finolex Cables, totaling approximately Rs. 91.31 lakh (₹4.09 lakh from Kolkata, ₹31.95 lakh from Chandigarh, ₹43.67 lakh from Bhubaneswar, and ₹12.29 lakh from Lucknow). These demands stem from alleged excess claims of Input Tax Credit and discrepancies in documentation. Importantly, while the total tax liability amounts to Rs. 91.31 lakh, the company states these demands will not materially affect its operational performance. Finolex may choose to appeal these orders, suggesting vigilance is needed as the outcomes could influence its financial positioning and operational strategies moving forward.