RANEHOLDINRane Holdings Limited
Rane Holdings says GST authority dropped a ₹10.07 crore demand against subsidiary Rane Steering Systems
- Legal
- Finance
Rane Holdings Limited has told the exchanges on 9 Oct 2026 that its wholly owned subsidiary, Rane Steering Systems Private Limited, received an order under Section 73 of the CGST Act, 2017 on 8 Oct 2026 from the Assistant Commissioner (ST), Royapettah, South-I, Chennai. The order drops the proceedings over a claim of ineligible input tax credit under Section 17(5), amounting to ₹10.07 crore including a penalty of ₹0.92 crore, for the financial years 2022-23 and 2023-24.
The authority acted on the reply the subsidiary submitted with supporting documents. The company reports the expected financial implication as nil. This updates its letter of 25 Sep 2026 about the show cause notice.
Inference
The demand has been dropped in full, which removes the exposure that the earlier show cause notice created. The filing records no financial effect.
Reference: Original filing (PDF)
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