Everest Industries: Tax Demand Reduced by ₹47.8 Lakhs, Penalty by ₹25.3 Lakhs
Everest Industries Limited has received an order from CGST, Roorkee, pertaining to a Show Cause Notice (SCN) dated June 24, 2025. The company had previously replied to the SCN. As per the order dated...
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Why is Everest Industries Limited in the news today?
Everest Industries Limited (EVERESTIND) is in the news due to while the tax demand and penalty have been significantly reduced, the company still intends to contest the remaining amount, indicating an ongoing dispute.
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Everest Industries: Tax Demand Reduced by ₹47.8 Lakhs, Penalty by ₹25.3 Lakhs
December 24, 2025, 10:03 AM
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Everest Industries Limited has received an order from CGST, Roorkee, pertaining to a Show Cause Notice (SCN) dated June 24, 2025. The company had previously replied to the SCN.
As per the order dated December 23, 2025, the tax demand has been reduced from ₹63,85,585 to ₹16,04,126 under Sections 74 and 122 of the CGST/UK GST Act, 2017. This represents a reduction of ₹47,81,459.
Furthermore, the penalty has been reduced from ₹41,41,536 to ₹16,04,126 under the same sections, a reduction of ₹25,37,410. The company intends to contest the remaining tax demand and penalty of ₹16,04,126 each.
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