Subsidiary RSSL gets GST show cause notice worth Rs 10.07 Cr

Regulatory & Legal View source PDF Explain this filing

RANEHOLDIN · price

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Price reactionminutes from the announcement price · days from the prior close

-0.4%Reaction day

₹1581.20

prior close

₹1572.90

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-0.7% vs market

Holding Company peers, median of 15sector+0.2%-0.6% vs sector

On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.6 pts less than its Holding Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-0.4+0.3-0.7+0.2-0.6

Next day

-0.4-1.3+0.9-0.8+0.4

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15d

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UpDownMarket · Nifty Microcap 250Sector · Holding Company peers, median of 15Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Wholly owned subsidiary Rane Steering Systems Private Limited (RSSL) received Show Cause Notice(s) from the Assistant Commissioner (ST), Royapettah South, Chennai, under Section 73 of CGST Act, 2017. The notice pertains to claims of ineligible Input Tax Credit under Section 17(5) of GST Act for FY 2022-23 and 2023-24. Total potential financial impact is Rs. 10.07 Crores including a penalty of Rs. 0.92 Crores. RSSL will file a suitable reply through its tax advisors within prescribed timelines.

Likely market impact

Potential tax demand of Rs 10.07 Cr on subsidiary; parent to respond via advisors. Watch for hearing outcome.