Action(s) taken or orders passed

SEDEMAC Mechatronics Limited has received orders from the Commercial Taxes Department of Tamil Nadu regarding Goods and Services Tax proceedings for the financial years 2022-23 and 2023-24. Following initial show cause notices, the tax authority has dropped the entire notice amounting to 1.51 Cr for the financial year 2023-24. For the financial year 2022-23, out of the initial demand of 0.84 Cr, the department dropped the remaining allegations and confirmed a minor demand of 40,036 rupees.

This development brings closure to the tax proceedings for these periods with negligible financial impact on the company.