Everest Industries: Tax Demand Reduced to ₹50.06 Lakhs, Company to Contest
Everest Industries Limited has received an order from the CGST, Roorkee, concerning a Show Cause Notice (SCN) dated September 22, 2025. The company had previously replied to the SCN. The order, recei...
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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 has been significantly reduced, a penalty has been imposed, and the company plans to contest the order, indicating an uncertain outcome.
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Everest Industries: Tax Demand Reduced to ₹50.06 Lakhs, Company to Contest
December 24, 2025, 10:08 AM
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Everest Industries Limited has received an order from the CGST, Roorkee, concerning a Show Cause Notice (SCN) dated September 22, 2025. The company had previously replied to the SCN.
The order, received on December 23, 2025, has reduced the tax demand by ₹1,23,01,446. The revised tax demand now stands at ₹50,06,268, comprising ₹47,80,402 of IGST, ₹1,12,933 of CGST, and ₹1,12,933 of SGST, under Section 73(9) of the CGST Act, 2017/UKGST Act, 2017 read with Section 20 of the IGST Act, 2017.
Additionally, a penalty of ₹5,18,043 has been imposed. Everest Industries Limited plans to contest this order regarding the tax demand and the imposed penalty.
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