Cords Cable Industries Gets CGST Appeal Order Setting Aside ₹45.92 Crore Tax Demand

Cords Cable Industries received an Order-in-Appeal from the Commissioner (Appeals), Central Goods and Services Tax, Jaipur, setting aside a ₹45.92 crore tax demand and associated penalties for FY2020-21. ScanX reported the order, dated October 16, 2026, was received by the company on October 24, 2026.

What the Jaipur Appeal Order Covered

The dispute concerned input tax credit for the financial year 2020-21. The Assistant Commissioner, CGST Division, Tijara, Bhiwadi, Rajasthan, had confirmed tax demands and imposed penalties in an Order-in-Original passed on February 28, 2025, and the company challenged that order under Section 107 of the Central Goods and Services Tax Act, 2017.

The Commissioner allowed the appeal after considering facts, submissions and documentary evidence placed on record. The original demand comprised a tax demand of ₹45,91,987, an additional demand of ₹4,823, and three penalties of ₹4,59,198, ₹5,33,822 and ₹10,000, with applicable interest also part of the demand.

Cords Cable Industries said in its disclosure to the exchanges that there is no material impact on its financial position, operations or other activities from the order. The company plans to file an application with the concerned department for a refund of the pre-deposit amount paid during the appeal process.

Cords Cable's Recent Tax and Contract Record

According to akta.pro company records, Cords Cable Industries received a rectification order in 2026 reducing its GST demand to Rs 18.31 lakh from Rs 35.59 lakh for FY2018-19 to FY2022-23, and announced plans to appeal the revised order. The same records show annual sales of Rs 953.90 crore for the fiscal year ended March 2026, up 20.05% from the previous year, and net profit of Rs 20.64 crore, up 40.70%.

Cords Cable Industries Limited is an Indian public manufacturer of low voltage industrial cables, including control, power, instrumentation, thermocouple and specialty variants, serving refineries, petrochemicals, power plants, metro railways and airports across India and the Middle East.

Tax Rulings Elsewhere in the Sector

Eleconomista reported on October 23, 2026 that the Audiencia Nacional suspended collection of a 120.3 million euro payment from Repsol for the 2024 energy tax, pending a bank guarantee, following a similar suspension of 152.4 million euros for 2023.

Diario Financiero reported on October 22, 2026 that the First Tax and Customs Tribunal of the Metropolitan Region ruled Isapre Nueva Masvida can deduct court costs from its tax base, allowing the deduction of over $600 million in costs, with the SII set to appeal.

Refund Application Ahead

Cords Cable Industries plans to file for a refund of the pre-deposit amount with the concerned department, the step it disclosed alongside the October 16, 2026 order.