Ucal Ltd Receives Show Cause Notice from Maharashtra Tax Office

Ucal Ltd has received a Show Cause Notice (SCN) from the Office of the Deputy Commissioner of State Tax, Government of Maharashtra, dated 25.09.2026. The notice pertains to discrepancies found during the GST audit for FY 2022-23, specifically regarding excess claim of Input Tax Credit (ITC) and reversal of excess ITC due to Credit Note. The authorities have demanded a penalty of Rs. 87.62 Lakhs, including interest. Ucal Ltd believes the SCN has no merit and plans to file a detailed reply within the prescribed timelines. The company states there is no immediate financial or operational impact at this stage.