NSE/BSE Codes: BSE: 505800, NSE: RANEHOLDIN

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under Regulation 30 of SEBI LODR regarding receipt of tax order by wholly owned subsidiary Rane Steering Systems Private Limited (RSSL).

Involved Parties / Authorities:

  • Deputy Commissioner (CT), Chennai (South) - issuing authority
  • Assistant Commissioner (ST), Royapettah, Assessment Circle - original order authority
  • Rane Steering Systems Private Limited (RSSL) - appellant

Date / Timeline of Event:

  • July 21, 2026: Date of disclosure to exchanges
  • Original order date: August 25, 2024 (by Assistant Commissioner)
  • Appeal filed u/s 107(1) of TNGST Act, 2017
  • Financial Year involved: 2019-20

Brief Description of Outcome / Dispute:

RSSL received an order from Deputy Commissioner (CT), Chennai (South) regarding an appeal filed u/s 107(1) of the TNGST Act, 2017 against the order passed by Assistant Commissioner (ST), Royapettah, Assessment Circle u/s 73 of GST Act, 2017. The appeal was partly allowed, partly dismissed, and partly modified. The matters dismissed include tax liability payable on reverse & forward charge mechanism on certain expenses and availing ITC on trade payables.

Impact of Outcome:

Financial Impact:
  • Total financial implication: ₹7.46 Crores
  • Penalty amount: ₹0.38 Crores
  • The impact relates to Financial Year 2019-20
Operational / Business / Strategic Impact:

No material disclosures in this section regarding operational, business, or strategic impact.

Other Implications:

No material disclosures in this section regarding other implications.

Next Steps / Required Actions:

RSSL, in consultation with its consultants/tax advisors, will be filing an appeal before appropriate authority within the prescribed timelines.