Everest Industries Limited on December 24 informed stock exchanges that it has received partial relief in a GST matter from the Central Goods and Services Tax (CGST) Department, Roorkee, Uttarakhand.
The company said the CGST authority passed an order on December 23, 2025, following a show-cause notice issued earlier in September. After considering Everest Industries’ reply and hearing the matter, the tax demand has been substantially reduced by ₹1.23 crore.
As per the order, the original GST demand of ₹1.73 crore has now been cut down to ₹50.06 lakh. This includes IGST of ₹47.80 lakh, along with CGST and SGST of ₹1.12 lakh each, under Section 73(9) of the CGST Act, 2017. Additionally, a penalty of ₹5.18 lakh has been imposed.
Everest Industries stated that it plans to contest the remaining tax demand of ₹50.06 lakh as well as the penalty, and added that the matter is being examined for further legal action.
The company disclosed the update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and clarified that the development has been duly reported to both the BSE and NSE.
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