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| Notes to Accounts | Year End : Mar '11 |
1 . In the year 2006-07 Company has opted Sales tax NPV discounted payable scheme and discounted the sales lax deferral liability of Rs. S. 76crores to Rs.2.29 crores. However, the company has not paid the amount till date and reversed the annual discounted value of the Sales lax deferral liability as interest; and as on 31.03.201 shown the deferral sales tax liability as unsecured loan for Rs.3.44 ; crores. Hence, as on 31.03.201 1 the discounted value of'' sales tax defer reliability not ye! reversed is Rs.2.09 crores. - The Company has show an advance (assets) of Rs.5.98 lacs as an receivable from the Provided Fund department. Hoover.)n department is claiming t, as an recovery on account of provided fund. The matter is under dispute and pending at High t dun Tin disputed amount is not provided in the books of accounts as a liability, as there is legal interpretation and the tin. decision of the case is awaited. (a) Job Work Activity . In case of Job Work) all the inventory belong to the customer and not forming part of our Closing Inventory. accordance with the requirements of Accounting Standard 18 i.e. Related Party Disclosures issued by the Institute of Chartered accountants of India, the details of related party transactions are given below : Segmental information: During the year the Company is also engaged in job work processing to a large extent. Therefore, to have a more meaningful work. According years figures are recalculated. Pelf products sales in earlier year to se8mentreported as Sales and Job outstanding amount & interest to Micro, Small & Medium Enterprises As per information and details available in the Previous year there is no payable or interest is outstanding or due to Micro & Medium Enterprises registered under the Micro, Small & Medium Enterprises Development Act, 2006. Prior year figures Previous years figures have been regrouped and reclassified, wherever necessary, to conform to the current year''s presentation. |
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| Source : Dion Global Solutions Limited | |
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