Samvardhana Motherson unit faces ZAR 4.98m penalty in South Africa
Samvardhana Motherson International Limited (BSE:MOTHERSON) disclosed that its indirect wholly-owned subsidiary, MSSL Global RSA Module Engineering ("MSSL RSA"), received a notice of assessment from the South African Revenue Services (SARS). The notice pertains to a penalty of ZAR 4,985,770 (approximately INR 21.94 million) imposed on MSSL RSA for the calculation of Provisional Tax for FY2023-2024. The company stated it is evaluating the possibility of filing an appeal with the SARS authority within the statutory timeframe. Samvardhana Motherson also stated that the notice is under review by parties and/or with advisors and that there is no material impact on the financials of MSSL RSA or on the operations or other activities of the Company.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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