5089062026-09-255089062026-09-25in-capmkt:AtTheTimeOfBecomingPartyToLitigationOrAssessmentOrAdjudicationOrArbitrationOrDisputeMember5089062026-09-25OppositePartyAsPerSubPara8OfParaBDomain1EVERESTIND EVEREST INDUSTRIES LIMITED508906NOTLISTEDINE295A01018Pendency of any litigation(s) or dispute(s) (Sub-para 8-Para B)At the time of becoming the party to any litigation, assessment, adjudication, arbitration or disputeNewfalse2026-09-2417:36:002026-09-25The State Goods and Services Tax (SGST) Department, Government of India2026-09-24AgencyDeputy Commissioner of State Tax, AMBAD_502, Nashik, Maharashtra-422010.Company Everest Industries LimitedThe Show Cause Notice raises the following major concerns: a)Excess ITC availed in GSTR 3B than available in GSTR 2B/2A b)Short liability declared in GSTR 3B/GSTR 9 compared to liability shown in GSTR 1. c)Outward Tax liability discharge in GSTR 3B / GSTR 9 is less than outward tax liability as per E-way bill generated. The GST Department has raised objections as stated above for the financial Year 2022-23, amounting to Rs. Total demand Rs. 13,34,35,202/- (Tax-Rs. 7,32,16,851/- + Interest Rs. 5,28,96,667/- + Penalty Rs. 73,21,684/-) under Section 73(1) of CGST & MGST Act, 2017.The GST Department has proposed to recover the amount of INR 13,34,35,202/-under Section 73(1) of CGST & MGST Act, 2017. Since it is only a SCN at this stage, and the Company firmly believes that it maintains strong legal and factual grounds in this matter and will be taking all necessary actions to present and defend its case before the relevant authorities and address the demand, there is no expected material financial impact. The Company is in the process of preparing a response to the Show Cause Notice. The Company does not consider it likely that this potential demand will materialize as a claim against the Company and result in liability.The claim is raised for INR 13,34,35,202/-Under Section 73(1) of CGST & MGST Act, 2017.