Tax Tangle Resolved: GE Vernova T&D Settles Input Credit Dispute via GST Amnesty Scheme

Unknown Apr 02, 2026 750 Views

GE Vernova T&D India Ltd has successfully closed a long-standing input tax credit (ITC) issue with the Odisha State Tax Department by availing benefits under the GST Amnesty Scheme. The resolution pertains to excess ITC claimed in FY 2019–20, and the company has now formally notified st...

Key Highlights of the Settlement

- GE Vernova T&D had claimed excess ITC in its GSTR-3B filings for FY 2019–20
- The company received a penalty order from the GST officer, prompting it to seek relief under the GST Amnesty Scheme
- An application was filed under Section 128A of the CGST Act, 2017, read with Rule 164 of the Odisha GST Rules
- The Assistant Commissioner of State Tax, Bhubaneswar III Circle, approved the application

Financial Breakdown of the Resolution

- Tax amount voluntarily paid: Rs 2,93,236
- Interest waived: Rs 2,29,784
- Penalty waived: Rs 29,322
- Total waiver under the scheme: Rs 2,59,106

Strategic and Regulatory Context

- The GST Amnesty Scheme was introduced to ease compliance burdens for taxpayers who missed filing returns or faced penalties for earlier periods
- GE Vernova T&D’s proactive approach reflects its commitment to regulatory transparency and financial discipline
- The company clarified that the matter has no material impact on its financials or operations

Corporate Governance and Disclosure

- The settlement was disclosed to BSE and NSE under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements
- The company emphasized that the issue was isolated and has been resolved without further litigation
- GE Vernova T&D continues to maintain a clean compliance record and robust internal controls

As GE Vernova T&D India Ltd closes the chapter on its input credit dispute, the resolution showcases how structured amnesty schemes can offer a pragmatic path to compliance—balancing regulatory enforcement with taxpayer relief.

Sources: StudyCafe, BSE Filings, GE Vernova T&D India Ltd Corporate Disclosures, Economic Times Tax Desk, Odisha GST Department Circulars

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