Everest Industries: GST tax demand cut from Rs 1.73 cr to Rs 50 lakh, penalty imposed

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Price reactionminutes from the announcement price · days from the prior close

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₹517.50

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+2.0% vs market

Other Construction Materials peers, median of 16sector+0.0%+1.4% vs sector

On the reaction day the stock moved 2.0 pts more than Nifty Microcap 250 and 1.4 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Everest Industries received a CGST order from Roorkee reducing its tax demand from Rs 1.73 crore to Rs 50.06 lakh under Section 73(9) of the CGST Act, 2017. A penalty of Rs 5.18 lakh was also imposed. The company plans to contest the remaining demand and penalty. This updates a Show Cause Notice received in September 2025.

Likely market impact

Partial relief as demand cut by about 71 percent, but Rs 50 lakh plus penalty still stands and company will challenge further.