GE Power India Limited — Important, 27-11-2024: General Updates

The Audit-II Commissionerate in Hyderabad has imposed a penalty of ₹6.32 crore (cr) on GE Power India Limited due to alleged improper availing of Input Tax Credit (ITC). The disallowance pertains to discrepancies reported by vendors on the GST portal. The company is currently assessing options to contest this penalty. This financial penalty could impact the company's operational activities and cash flows. Investors should monitor the situation closely, as the outcome may influence the company's financial health and operational strategies moving forward.