Rane Holdings’ Subsidiary Receives Show Cause Notice Regarding GST Matters
Rane Steering Systems Private Limited (RSSL), the wholly owned subsidiary of Rane Holdings Ltd, has received a Show Cause Notice from an Assistant Commissioner regarding matters under the CGST Act.The communication pertains to differences noted between GSTR-2A and GSTR-3B submissions, details concerning issued credit notes, and exempted or nil rated supplies.
Details of Regulatory Communication
Rane Holdings Limited furnished details regarding this receipt of communication by RSSL in response to Regulation 30(13) of SEBI LODR. The key aspects of the notice are detailed below:| Particulars | Details |
|---|---|
| Type of communication received | Show Cause Notice under Section 73 of CGST Act, 2017 |
| Date of receipt of communication | July 17, 2026 |
| Authority from whom communication received | Assistant Commissioner (ST), Royapettah, South - I, Chennai |
| Period for which communication would be applicable | Financial Year 2022-23 |
| Expected financial implications on the listed company | Rs.11.88 Crores including penalty of Rs.1.07 Crores |
| Details of any penalty or restriction imposed | Rs.1.07 Crores |
Action Taken and Outlook
In response to the Show Cause Notice, RSSL has stated that it will be filing a suitable reply before the appropriate authority within the prescribed timelines after consultation with its consultants and tax advisors.The regulatory action relates to discrepancies between GSTR-2A (statement on inward supplies) and GSTR-3B (monthly return), as well as issues concerning credit notes and exempted or nil rated supplies.
Litigation Pendency Details
Regarding pending litigation or disputes that may impact the listed entity, the details are linked to the show cause notice:| Aspect | Reference |
|---|---|
| Opposing party and filing agency | As per Sl.No. 4 and Sl.No. 5 of Annexure-A |
| Expected financial implications | As per Sl.No. 7 of Annexure-A |
RANEHOLDIN Stock Price Movement
Shares of Rane Holdings Limited slipped by 1.18% to settle at ₹1729.2 on Friday, falling ₹20.60 from the previous close. The stock closed after trading within a range that included a day low of ₹1711.6.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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