With reference to our earlier intimation dated December 31, 2025 regarding Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( Listing Regulations ) Update in connection with SCN dated September 26, 2025, kindly note that there was an inadvertent typographical and calculation error in certain figures reported in the intimation. We would like to inform the exchange that pursuant to the order dated December 31, 2025, the total demand of Rs. 56,06,00,928/- (includes tax, interest & penalty) now stands reduced to Rs. 69,10,068/- (Tax demand Rs. 39,13,383/-, Interest Rs. 26,05,347/- & Penalty Rs. 3,91,338/-) under section 73 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017. The Company is planning to contest the said order for the total demand of Rs. 69,10,068/-.
EVERESTIND · price
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Awaiting price reaction for this filing.
Everest Industries has corrected a previous filing from December 31, 2025, that contained typographical and calculation errors. The actual GST demand of Rs. 69,10,068/- (tax of Rs. 39.13 lakh, interest of Rs. 26.05 lakh, and penalty of Rs. 3.91 lakh) is drastically lower than the previously reported figure of Rs. 56,06,00,928/-, which was overstated due to an error. The order was passed under Section 73 of the Central GST, SGST, and IGST Acts, 2017. The company has stated it plans to contest this revised demand.
This is a significant positive correction for shareholders, as the actual tax liability is roughly 0.12% of the previously reported figure. The stock is unlikely to see negative pressure from this news, though the company will incur some legal costs to contest the remaining demand.