Rane Steering Systems GST Demand of ₹10.07 Cr Dropped

Rane Steering Systems Private Limited, a wholly-owned subsidiary of Rane Holdings Limited, has received a favorable order from the GST Authority in Chennai. The order drops a demand of ₹10.07 Crores, which included a penalty of ₹0.92 Crores, related to ineligible Input Tax Credit (ITC) for the financial years 2022-23 and 2023-24. This follows a Show Cause Notice previously issued to RSSL. The GST Authority dropped the proceedings based on the reply and supporting documents submitted by RSSL, indicating no expected financial implications for Rane Holdings Limited.