Ucal Ltd Receives GST Show Cause Notice for ₹6.48 Cr

Ucal Ltd has received a Show Cause Notice (SCN) from the State Tax Officer, Ambattur Assessment Circle - GST, alleging discrepancies during the GST Audit for FY 2022-23. The notice pertains to various issues including excess Input Tax Credit claims, credit/debit notes, non-GST supplies, and ITC reversals. The authorities have demanded a penalty of ₹6.48 Crores, including interest. Ucal Ltd believes the SCN has no merit and plans to file a detailed reply with supporting evidence within the prescribed timelines. The company stated there is no immediate impact on its financials, operations, or other aspects at this stage.