GE Vernova T&D India Limited has informed stock exchanges about receiving a GST demand notice from tax authorities totaling ₹52.86 lakh related to compliance issues during FY2018-19. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Demand Details

The tax demand pertains to reconciliation of e-waybills with tax invoices raised during FY2018-19. The order was issued by the GST authority on December 18, with the company receiving the communication on the same date.

Company's Response Strategy

GE Vernova T&D India has indicated its intention to challenge the GST authority's order through the appellate process. The company plans to file an appeal against the demand before the first Appellate Authority, suggesting it disputes the basis or quantum of the demand raised.

Financial Impact Assessment

The company has assessed that there is no material impact on its financial, operational, or other activities from this GST demand. According to the regulatory filing, the financial impact will be limited to the extent of the order issued by the tax authorities.

Regulatory Compliance Context

This disclosure demonstrates the company's adherence to transparency requirements under SEBI regulations. The GST demand relates to historical compliance issues from FY2018-19, specifically concerning the reconciliation process between e-waybills and corresponding tax invoices during that financial year.

The development highlights ongoing regulatory scrutiny in GST compliance, particularly regarding proper documentation and reconciliation processes that companies must maintain for tax authorities' satisfaction.

GE Vernova T&D India Limited has secured a significant long-term contract from Power Grid Corporation of India Limited (PGCIL) for upgrading high voltage direct current (HVDC) transmission infrastructure. The order focuses on enhancing the 2×500 MW Chandrapur transmission link, marking another milestone in India's power grid modernization efforts.

Contract Details

The HVDC upgrade project represents a strategic investment in India's transmission infrastructure. The contract involves comprehensive upgrades to the existing Chandrapur link, which operates at a capacity of 2×500 MW. This enhancement will contribute to improved power transmission efficiency and grid stability in the region.

Strategic Significance

This order reinforces GE Vernova T&D's established presence in India's power transmission sector. The company continues to play a crucial role in supporting PGCIL's infrastructure development initiatives across the country. The Chandrapur link upgrade aligns with India's broader objectives of strengthening its electrical grid network and ensuring reliable power transmission.

Power Grid Modernization

The HVDC technology upgrade represents part of India's ongoing efforts to modernize its power transmission infrastructure. High voltage direct current systems offer enhanced efficiency for long-distance power transmission compared to traditional alternating current systems. The 2×500 MW capacity enhancement will contribute to improved power flow management and grid reliability in the region.

This contract award demonstrates the continued collaboration between GE Vernova T&D and PGCIL in advancing India's power transmission capabilities. The long-term nature of the agreement provides stability for both organizations while ensuring sustained infrastructure development support.