Samvardhana Motherson International Limited announces that a penalty has been imposed on its indirect subsidiary, MSSL Global RSA Module Engineering Limited (MSSL RSA), by the South African Revenue Services (SARS). The penalty amounts to ZAR 215,152 (approximately INR 1.095 Million) due to adjustments during Corporate Tax proceedings for the Tax Period 2023. The company is evaluating an appeal.
Penalty Imposed by SARS
The South African Revenue Services (SARS) has finalized an audit letter regarding MSSL Global RSA Module Engineering Limited (“MSSL RSA”), an indirect wholly-owned subsidiary of Samvardhana Motherson International Limited. This resulted in a penalty.
Details of the Penalty
The penalty is related to adjustments made during the Corporate Tax proceedings for the tax period 2023. The levy pertains to ZAR 215,152, which is approximately equivalent to INR 1.095 Million.
Impact and Next Steps
The company believes that there is no material impact on the financials, operations, or other activities of MSSL RSA. Samvardhana Motherson International Limited is currently evaluating the filing of an appeal with the SARS authority within the stipulated statutory timeline. The date of receipt of the Finalisation of Audit letter was September 25, 2025.
Source: BSE