28-Sept-2026 22:36:45

RANE HOLDINGS : SHOW CAUSE NOTICE RECEIVED BY SUBSIDIARY

• Rane Steering Systems Private Limited (RSSL), a wholly owned subsidiary, received a Show Cause Notice from the Deputy Excise & Taxation Commissioner (State Tax), Rewari, Haryana. • The notice relates to issues concerning excess input tax credit (ITC) claimed in GSTR-3B compared to GSTR-2B, reverse charge liability on trademark fee, secondment of overseas employees, and other miscellaneous issues. • Potential financial implications are aggregating to ₹57.12 Crores, including applicable interest & penalty of ₹1.25 Crores. • RSSL is consulting with tax advisors and is confident in contesting the matter, expecting a positive resolution.

Rane Holdings Limited

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