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South Africa Revenue Services (SARS) issued a Notice of Assessment to MSSL Global RSA Module Engineering, a wholly owned subsidiary of Samvardhana Motherson International Limited, levying a penalty of ZAR 49,857,770 (approximately INR 21.94 million) for provisional tax calculation for FY2023-2024. However, the financial and operational impact on MSSL RSA or the parent company is deemed immaterial. The company is considering filing an appeal with the SARS authority within the statutory timeline. This situation should be monitored closely for any developments in the appeals process.
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