Everest Industries Receives GST Order; Total Demand Rs. 2.77 Crore
Everest Industries Limited has received an order from the Deputy Commissioner CGST, Ranchi, on December 31, 2025. This order pertains to a Show Cause Notice dated June 24, 2025, concerning the period ...
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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 gst order with a significant penalty, which is negative. however, the tax demand was reduced, and the company plans to contest the order, expressing hope for a favorable outcome and no material financial impact, which balances the sentiment.
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Everest Industries Receives GST Order; Total Demand Rs. 2.77 Crore
January 2, 2026, 02:30 PM
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More Details on This News
Everest Industries Limited has received an order from the Deputy Commissioner CGST, Ranchi, on December 31, 2025. This order pertains to a Show Cause Notice dated June 24, 2025, concerning the period from 2018-19 to 2022-23.
The tax demand, including interest, has been reduced to ₹66,40,217 (Tax demand – ₹66,22,498 and Interest – ₹17,719). However, a penalty of ₹2,11,28,933 has also been imposed, bringing the total demand, including interest and penalty, to ₹2,77,69,150.
The company plans to contest this order. The allegations include excess ITC claimed, availed ineligible ITC, short GST paid under RCM, short payment of GST liability, and non-payment of interest. Based on the company's assessment, an appeal will be filed, and they are hopeful of a favorable outcome with no material financial impact expected.
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