Everest Industries Limited has received a show cause notice (DRC 01) from the Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh. The notice, issued under Section 73(9) of the Central GST Act, 2017 & MPGST Act, 2017 and IGST Act, 2017, was received on January 27, 2026, at 4:31 p.m. IST. The dispute pertains to the financial year 2022-23 and includes alleged excess Input Tax Credit (ITC) claimed, availed ineligible/blocked ITC, short GST paid under Reverse Charge Mechanism (RCM), non-payment of interest, and discrepancies in outward e-way bill liability compared to GSTR 3B. The GST Department has proposed a total demand of ₹1,32,77,409, comprising a tax demand of ₹80,95,982, interest of ₹43,71,829, and a penalty of ₹8,09,598. The company stated that there is no material impact on its financial, operational, or other activities. Everest Industries Limited firmly believes it has strong legal and factual grounds to defend its case and will present its defense before the relevant authorities. The company does not consider it likely that this potential demand will materialize as a claim against the company and result in a liability.
