GE Vernova T&D India Faces Customs Demand Following Import Assessment
GE Vernova T&D India Ltd has confirmed a financial impact resulting from an assessment by the Joint Commissioner of Customs regarding imported goods. The company's obligations stem from an order received on April 6, 2026.The action taken by the customs authority involved the assessment of certain imported goods, which were initially assessed at concessional rates of Basic Customs Duty. The Joint Commissioner of Customs subsequently identified that the imported goods were not covered under these concessional rates, leading to a confirmed demand for a short-levied differential duty.
The order issued by the authority on April 4, 2026, detailed the required financial adjustments. According to the details provided, the components of the demand, penalty, and redemption fine are as follows:
| Component | Amount |
|---|---|
| Short-levied differential duty amount | INR 15,14,900/- |
| Penalty Amount | INR 15,14,900/- |
| Redemption fine | Rs. 200,000/- |
The company noted that the date of receipt of the directive or order from the authority was April 6, 2026. The contravention identified relates to the import of certain goods assessed at concessional rates of Basic Customs Duty, where the authority confirmed the demand for differential duty because the goods were not covered under those concessional rates.
Regarding the impact on the listed entity, the company stated that there is no material impact on the financial, operation or other activities of GE Vernova T&D India Ltd. The financial impact is expected to be limited to the extent of the order received.
Stock Price Movement
At the close of trade on Tuesday, GE Vernova T&D India Ltd slipped, settling at ₹3673.30, down 1.57%. The shares traded between a low of ₹3660.55 and a high of ₹3787.70 during the session.Source:
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