This intimation is with reference to our intimation dated September 23, 2025 regarding the receipt of Show Cause Notice from the Assistant Commissioner Central Goods & Service Tax, Division, Roorkee, Uttarakhand. We wish to inform you that the Company had replied to the said SCN and after hearing the case, the Company has received an order from CGST, Roorkee on December 23, 2025 at 3:57 p.m. (IST). Pursuant to the said order, the Tax demand has been reduced by Rs. 1,23,01,446/- and thus, the tax demand of Rs. 1,73,07,714/- now stands reduced to Rs. 50,06,268/- (IGST Rs. 47,80,402/-, + CGST Rs. 1,12,933/- + SGST Rs. 1,12,933/-) under Section 73(9) of the CGST Act, 2017/ UKGST Act, 2017 read with Section 20 of IGST Act, 2017. Further, penalty of Rs. 5,18,043/- has been imposed and the Company is planning to contest the said order for the tax demand of Rs. 50,06,268/- and penalty as mentioned above.
EVERESTIND · price
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Everest Industries received an order from the CGST authorities in Roorkee, Uttarakhand on December 23, 2025, in response to a Show Cause Notice. The original tax demand of Rs. 1.73 crore has been reduced to about Rs. 50 lakhs, a reduction of Rs. 1.23 crore. However, a penalty of Rs. 5.18 lakh has been imposed along with the remaining demand. The company is planning to contest the remaining tax demand and penalty.
The order is partly favourable as the tax demand was cut by roughly 71%, but the company still faces a remaining liability of about Rs. 55 lakhs (including penalty) and additional legal costs from contesting the order. The near-term financial impact is limited but worth monitoring, as the final outcome remains uncertain.