Everest (EVERESTIND) — Announcement

📢 Key Event
Everest Industries receives GST show cause notice from Odisha tax department

💡 Investor Takeaway
The notice poses a potential liability but the company expects no material financial impact and will defend its position legally.

⚠️ Risks
Potential GST demand of Rs. 3,17,49,077 with interest and penalty components

Everest Industries received a GST show cause notice from Odisha's tax department on August 3, 2026, demanding Rs. 3,17,49,077 in tax, interest, and penalty for FY 2022-23, alleging overstated turnover adjustments, improper credit note treatment, and ineligible ITC claims under Section 73 of the CGST Act. The company disputes the assessment, believes it has strong legal grounds, and expects no material financial impact despite the pending response.

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About Everest Industries Limited (EVERESTIND)

Construction Materials · Cement - Products · Listed on NSE

Market Cap: ₹671.89 Cr ROE: -0.3% ROCE: 6.0% Div Yield: 0.24%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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