Everest Industries: GST Demand Reduced Significantly by ₹8.26 Crore
Everest Industries Limited has provided an update regarding a Show Cause Notice (SCN) received on May 30, 2025, from the Office of Deputy Commissioner of State Goods and Service Tax, Jabalpur Division...
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Why is Everest Industries Limited in the news today?
Everest Industries Limited (EVERESTIND) is in the news due to the company received a significantly reduced tax demand, resulting in a minimal payment obligation, which is a positive outcome.
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Everest Industries: GST Demand Reduced Significantly by ₹8.26 Crore
December 30, 2025, 06:30 AM
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More Details on This News
Everest Industries Limited has provided an update regarding a Show Cause Notice (SCN) received on May 30, 2025, from the Office of Deputy Commissioner of State Goods and Service Tax, Jabalpur Division, Madhya Pradesh.
Following the company's reply to the SCN and a subsequent hearing, an order was received from the Deputy Commissioner of State Tax, Jabalpur on December 29, 2025, at 2:51 p.m. (IST). The erstwhile demand of ₹8,26,59,694, comprising tax demand of ₹2,58,31,923, interest of ₹3,09,95,848, and penalty of ₹2,58,31,923, has been significantly reduced by ₹8,26,07,908.
The reduced demand includes tax of ₹2,58,31,923, interest of ₹3,09,94,062, and penalty of ₹2,57,81,923. Consequently, there is no outstanding tax demand. The company will pay a reduced interest of ₹1,786 and a penalty of ₹50,000 as per the order.
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