Rane Holdings WOS gets ₹57.12 Cr GST Show Cause Notice

Rane Holdings Ltd's wholly-owned subsidiary, Rane Steering Systems Private Limited (RSSL), has received a GST Show Cause Notice from the Deputy Excise & Taxation Commissioner (State Tax), Rewari, Haryana. The notice, dated September 28, 2026, pertains to the Financial Year 2022-23. The aggregated amount in question is ₹57.12 Crores, which includes an applicable interest and penalty of ₹1.25 Crores. The issues cited in the notice primarily involve excess Input Tax Credit (ITC) claimed, reverse charge liability on trademark fees and secondment of overseas employees, and other miscellaneous issues like availment of ineligible ITC and issuance of credit notes. RSSL, after consulting with its tax advisors, is confident in its position and intends to contest the notice before the appropriate authority, expecting a positive resolution.