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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Ucal Ltd
UCAL Ltd receives GST show cause notice for FY 2022-23 and FY 2023-24
REGULATORY ▼ Concern Flagged MEDIUM RISK
📅 Filed on BSE: 09 Apr 2026, 05:40 PM IST  ·  BSE ID: 3fc07915-2f4c-4965-8b27-8d5d561d9c22
View Original BSE Filing (PDF)
💡
In Simple Terms
The tax department is questioning whether UCAL paid the correct GST taxes for two years and is asking the company to explain and prove it did.
🤖 AI Summary
  • Show cause notice received 09 April 2026 from Commercial Tax Department, Ambattur for GST discrepancies
  • Covers FY 2022-23 and FY 2023-24 GST returns — alleged short tax payment and turnover differences
  • Alleged violations include outward supply tax shortfall, RCM shortfall, ITC reversal, credit notes, E-way bill mismatches
  • Company to file detailed reply with evidence within prescribed timelines; no material financial impact claimed
  • Management states show cause notice has no merits and company will substantiate its position
🔢 Key Numbers — exact figures from BSE filing, not rounded
Date of Show Cause Notice Receipt
09 April 2026
Financial Years Under Scrutiny
FY 2022-23 and FY 2023-24
Authority
Assistant Commissioner (ST), Ambattur Assessment Circle, Commercial Tax Department
Material Financial Impact Claimed
None disclosed
🏢 How This Affects the Company
💰
Financial Impact
Company disclosed no material quantifiable financial impact from the show cause notice. However, potential liability remains unquantified pending resolution of alleged GST discrepancies across outward supplies, RCM, and ITC claims.
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Risk Impact
Tax authority has alleged discrepancies across multiple GST compliance areas for two fiscal years, introducing regulatory and compliance risk. Resolution outcome and any potential tax demand remain uncertain pending company's detailed response.
👥 What This Means For Shareholders
✅
Action Required
Shareholders should monitor company disclosure updates for tax authority response outcome and any material financial impact quantification within 60-90 days.
👤
Who Is Affected
All shareholders are equally exposed to outcome risk. Final tax demand, if any, will flow to company net profit and cash position.
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Management Signal
Management's immediate disclosure and assertion of no merits suggests confidence in compliance position. Substantiation quality in detailed reply will determine credibility of this stance.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Company's detailed reply submission within prescribed GST authority timeline — track for Reg 30 update disclosure
Tax authority assessment order — check for quantified demand amount and company's response filing
Q1/Q2 FY27 results — monitor cash position and any liability provisions for GST dispute
MEDIUM RISK Multi-year GST compliance audit with multiple alleged violations. Unquantified liability. Resolution outcome uncertain pending substantiation.
💡 Investor Takeaway
UCAL received a GST show cause notice on 09 April 2026 for alleged discrepancies across FY 2022-23 and FY 2023-24 returns covering outward supplies, RCM, ITC, and E-way bills. Company claims no material impact and states notice has no merits. Specific liability amount unquantified; resolution pending company reply.
⚖️ Strengths & Concerns

✅ Positives

  • Company disclosed no material impact on financial or operational activities from show cause notice
  • Management proactively stated belief that notice has no merits and plans to file substantiated detailed reply

⚠️ Concerns

  • Multiple alleged GST violations across outward supplies, RCM, ITC reversal, and E-way bill reconciliation spanning two years
  • Specific amount of alleged GST shortfall not quantified; final liability remains unresolved pending authority assessment
📅 Company Track Record
No prior company filings found. Company formerly known as UCAL Fuel Systems Limited; rebranded to UCAL Limited. Registered office Ambattur, Chennai. ISO 9001:2015 and IATF 16949:2016 certified.

Based on publicly available historical data. For context only.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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