Tax & Penalty27 Aug 2026, 03:36 pm
Everest Industries Concludes GST Inspection; Pays ₹46.98 Lakhs Under Protest
AI Summary
Everest Industries Ltd has informed the exchanges that the Goods & Service Tax Department, Maharashtra, has concluded their inspection/search proceedings on August 26, 2026. The company has rectified certain discrepancies by paying GST for FY 2021-22 till date, under protest. This payment includes potential compensatory interest of ₹46.98 lakhs, which is available for restitution/restoration. At present, there is no material impact on the company's financials or business operations.
Key Highlights
- GST inspection proceedings concluded on August 26, 2026.
- Company paid GST for FY 2021-22 onwards under protest.
- Potential compensatory interest of ₹46.98 lakhs paid.
- No material impact on financials or operations currently.
- Discrepancies mentioned in proceeding sheet issued by Assistant Commissioner.
Price Impact
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