Everest Industries Limited: GST Demand Reduced by 98.7% to ₹69 Lakhs
Everest Industries Limited has issued a revised intimation regarding a Show Cause Notice (SCN) dated September 26, 2025. Following an inadvertent typographical and calculation error in a previous inti...
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Why is Everest Industries Limited in the news today?
Everest Industries Limited (EVERESTIND) is in the news due to the significant reduction in the tax demand from ₹56.06 crore to ₹69.10 lakh is a positive development for the company, as it substantially lowers its financial liability.
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Everest Industries Limited: GST Demand Reduced by 98.7% to ₹69 Lakhs
January 2, 2026, 02:18 PM
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More Details on This News
Everest Industries Limited has issued a revised intimation regarding a Show Cause Notice (SCN) dated September 26, 2025. Following an inadvertent typographical and calculation error in a previous intimation dated December 31, 2025, the company has clarified the revised total demand.
Pursuant to an order dated December 31, 2025, the total demand, which was initially reported as ₹56,06,00,928 (including tax, interest, and penalty), has been significantly reduced to ₹69,10,068. This revised amount comprises a tax demand of ₹39,13,383, interest of ₹26,05,347, and a penalty of ₹3,91,338, under Section 73 of the Central GST Act, 2017, SGST Act, 2017, and IGST Act, 2017.
The company has stated its intention to contest this revised total demand of ₹69,10,068.
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