Ucal Ltd Receives Show Cause Notice Regarding GST Returns for FY 2022-23 and FY 2023-24
Ucal Ltd has received a show cause notice from the Assistant Commissioner (ST), Ambattur Assessment Circle, Commercial Tax Department, concerning discrepancies noted in its GST returns for the financial years 2022-23 and 2023-24.The company received the show cause notice on April 9, 2026, from the Commercial Tax Department. The notice requires Ucal Ltd to furnish a reply along with supporting documentation concerning various discrepancies found in the GST returns or statements filed by the entity for the specified fiscal years.
The authorities alleged several discrepancies in the GST returns and statements for FY 2022-23 and FY 2023-24. These allegations include short payment of tax on outward supplies, differences in turnover, short payment of tax under Reverse Charge Mechanism (RCM), issues related to Input Tax Credit (ITC) reversal, and discrepancies in Credit notes and E-way bill reconciliation.
In terms of the impact, the notice states that there is no material impact on the financial, operational, or other activities of the Company due to the issuance of this show cause notice. Ucal Ltd stated its belief that the show cause notice lacks merit and plans to file a detailed reply, including facts, figures, and justifications, with the GST Authority within the stipulated timelines, backed by required evidence.
The core details of the notice are summarized below:
| Detail | Description |
|---|---|
| Issuing Authority | Assistant Commissioner (ST), Ambattur Assessment Circle, Commercial Tax Department. |
| Date of Notice | 09.04.2026 |
| Subject Matter | Discrepancies in GST returns/statements for FY 2022-23 and FY 2023-24. |
| Alleged Issues | Short payment of tax on outward supplies, differences in turnover, short payment of tax under RCM, ITC reversal, Credit notes, and E-way bill reconciliation. |
| Material Impact | None reported; Company plans to file a detailed reply. |
UCAL Stock Price Movement
UCAL LIMITED shares shed 2.30% today, settling at ₹94.26 after falling by ₹2.22 from previous levels. The stock saw 7,492 shares change hands in today's trading session.Source:
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