GST order reduces Everest tax demand to Rs 16 lakh; company plans to contest

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EVERESTIND · price

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

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prior close

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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

CGST Roorkee reduced Everest Industries' tax demand from Rs 63.85 lakh to Rs 16.04 lakh and penalty from Rs 41.41 lakh to Rs 16.04 lakh under CGST/UK GST Act. The company plans to contest the remaining demand and penalty. This follows a Show Cause Notice dated June 24, 2025 from the Anti-Evasion Commissionerate, Dehradun.

Likely market impact

Partial relief on tax demand; remaining Rs 16 lakh will be contested. Low material financial impact but ongoing legal exposure remains.