Everest Industries Receives GST Show Cause Notice for ₹1.35 Cr Demand

Everest Industries Ltd has received a show cause notice (DRC 01) from the Assistant Commissioner of Central Goods and Service Tax, Kurukshetra, Haryana. The notice, issued under Section 74 of the CGST Act, 2017 & HGST Act, 2017 and Section 20 of IGST Act, 2017, pertains to alleged wrong availment of input tax credit (ITC) on hotel and accommodation expenses, and short-payment of GST on freight and security services for the financial years 2020-21 to 2023-24. The total tax demand raised is ₹1,35,68,692/-. The company states there is no material impact on its financial, operational, or other activities and believes it has strong legal grounds to defend its case. Everest Industries is preparing a response to the notice.