Convert string Date Value to Date Type (using Direct Query)

Hi SachinC 

As tested, it doesn't support to convert text to date format in Power query when connection type is direct query.

You could add a calculated column on report view, or change date format in sql side.

Column =
VAR t_number =
    FIND (
        "T",
        [date],
        1,
        0
    )
VAR date_text =
    LEFT (
        [date],
        t_number - 1
    )
VAR year_t =
    LEFT (
        date_text,
        4
    )
VAR first =
    FIND (
        "-",
        date_text,
        1,
        0
    )
VAR second =
    FIND (
        "-",
        date_text,
        first + 1,
        0
    )
VAR interval = second - first - 1
VAR mm =
    MID (
        date_text,
        first + 1,
        interval
    )
VAR dd =
    RIGHT (
        date_text,
        t_number - second - 1
    )
RETURN
    year_t & "/" & mm & "/" & dd