iii The Company has not granted any loans or made any investments or provided

Iii the company has not granted any loans or made any

This preview shows page 68 - 69 out of 116 pages.

iii. The Company has not granted any loans or made any investments, or provided any guarantees or security to the parties covered under Section 185 and 186. Therefore, the provisions of Clause 3(iv) of the Order are not applicable to the Company. v. The Company has not accepted any deposits from the public within the meaning of Sections 73, 74, 75 and 76 of the Act and the Rules framed there under to the extent notified. vi. Pursuant to the rules made by the Central Government of India, the Company is required to maintain cost records as specified under Section 148(1) of the Act in respect of its products. We have broadly reviewed the same, and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have not, however, made a detailed examination of the records with a view to determine whether they are accurate or complete. vii. (a) According to the information and explanations given to us and including management’s assessment in respect of provident fund as referred to in note 44 to the Financial Statements and the records of the Company examined by us, in our opinion, the Company is regular in depositing undisputed statutory dues, including provident fund, employees’ state insurance, income tax, duty of customs, goods and service tax, and other material statutory dues, as applicable with the appropriate authorities. (b) According to the information and explanations given to us and the records of the Company examined by us, there are no dues of sales-tax, duty of excise and value added tax which have not been deposited on account of any dispute. The particulars of dues of income tax, service tax and duty of customs as at March 31, 2019 which have not been deposited on account of a dispute, are as follows: Name of the statute Nature of dues Gross Amount ( ` ) Amount paid under protest ( ` ) Net Amount ( ` ) Period to which the amount relates Forum where the dispute is pending The Income Tax Act, 1961 Income Tax 5,077,460 5,077,460 - 2009-10 Income Tax Appellate Tribunal The Income Tax Act, 1961 Income Tax* 6,159,181 6,159,181 - 2010-11 Income Tax Appellate Tribunal The Income Tax Act, 1961 Income Tax** 197,905,800 155,845,335 42,060,465 2013-14 Income Tax Appellate Tribunal Punjab Value Added Tax Act, 2005 Value Added Tax (VAT) 1,771,199 190,482 1,580,717 2006-07 The Honourable High court of Punjab and Deputy Excise and Taxation Commissioner, Patiala Division, Patiala Customs Act, 1962 Custom duty 21,248,482 - 21,248,482 2005-06 Customs, Excise & Service Tax Appellate Tribunal, Mumbai The Finance Act, 1994 Service tax 25,648,174 1,764,842 23,883,332 2006-07 to 2011-12 Central Excise and Service Tax Appellate Tribunal, Bengaluru The Finance Act, 1994 Service tax 4,883,896 243,700 4,640,196 2012-13 Central Excise and Service Tax Appellate Tribunal, Bengaluru The Finance Act, 1994 Service tax 2,130,238 440,625 1,689,613 2010-11 to 2011-12 Commissioner of Central Excise (Appeals), Bengaluru The Finance Act, 1994 Service tax 3,422,026 114,577 3,307,449 2013-14 to 2015-16 Commissioner of Central Excise (Appeals), Bengaluru The Finance Act, 1994 Service tax 1,228,515 969,227 259,288 2013-14 to 2015-16 Central Excise and Service Tax Appellate Tribunal, Bengaluru The Finance Act, 1994 Service tax 3,432,772 192,133 3,240,639 2015-16 Commissioner of Central Excise (Appeals), Bengaluru * The Company has adjusted ` 6,159,181 against refund of previous assessment years.
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