UCAL LIMITED has informed the Exchange about Action(s) initiated or orders passed
UCAL · price
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Awaiting price reaction for this filing.
UCAL Limited has received a show cause notice from the Assistant Commissioner, Commercial Taxes Department, Chengalpattu Assessment Circle, on 29 September 2025. The notice, issued in Form GST DRC-01, pertains to the company's claim of GST exemption on the turnover of its SEZ (Special Economic Zone) unit for FY 2021-22. The tax authority has alleged that the company did not file sufficient supporting documents for this exemption claim. The potential tax demand, along with applicable interest, is Rs. 21,81,129 (approximately Rs. 21.8 lakhs). The company has been given an opportunity to be heard and submit objections. UCAL plans to file a detailed reply with supporting evidence before the GST authority within the prescribed timeline.
The company states there is no material financial or operational impact from this notice, as the disputed amount is small (~Rs. 21.8 lakhs) and the company believes the notice lacks merit. Shareholders are unlikely to see a meaningful effect on the stock, though the outcome of the reply remains pending.