Samvardhana Motherson International Limited ( (IN:MOTHERSON) ) has provided an announcement.
Samvardhana Motherson International Limited announced that its wholly owned subsidiary, Motherson Auto Solutions Limited, received a penalty order from the Assistant Commissioner in Chengalpattu, Tamil Nadu, under the TNGST Act, 2017. The penalty, amounting to INR 15,83,450, pertains to the eligibility of input tax credit availed during the fiscal year 2019-20. The company stated that this penalty will not have a material impact on its financials or operations, and it intends to appeal the decision.
More about Samvardhana Motherson International Limited
Samvardhana Motherson International Limited operates in the automotive industry, providing a range of products and services primarily focused on automotive solutions. The company is known for its extensive market presence and is involved in various aspects of the automotive supply chain.
YTD Price Performance: -23.93%
Average Trading Volume: 866,370
Current Market Cap: 831B INR
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