AGS Transact Technologies Limited

Annexure VII: Statement on Adjustments to Revised Restated Consolidated Financial Information

India Transact Services Limited

Clause (vii)(a)

‘According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted/ accrued in the books of account in respect of undisputed statutory dues including of provident fund, income tax, goods
and service tax and cess have not been regularly deposited with the appropriate authorities and there have been significant delays in large number of cases. According to the information and explanations given to us and on the basis of our examination of the records of
the Company, amounts deducted / accrued in the books of account in respect of undisputed statutory dues of employees state insurance has been regularly deposited with the appropriate authorities though there have been slight delays in few cases. As explained to us,

the Company does not have any dues on account of duty of excise, service tax, sales tax and value added tax during the year.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees’ state insurance, income tax, goods and service tax, duty of customs, cess and other statutory dues were

for a period of more than six months from the date they became payable, except as disclosed below:

 

 

‘Name of Statute

Nature of the dues

Amount
(Rs. in million)

Periods to which the

amount relates

Due date

Date of payment

 

 

 

 

fees

}2018-19 and 2019-20

Fmt Pr Zi 3 [Financial year
|The Central Goods and Service Tax Act, 2017 Interest on Goods and service tax 2.48 18 19 and 2019-20. [20tR oF each next month Not paid
: K Financial year a
|The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Interest on Provident fund 0.07 1919.20 15th of each next month Not paid
‘99|Financial year C
Income Tax Act, 1961 Interest on tax deducted at source 492 18-19 and 2019-20 {ti of each next month Not paid
i 7 ncial year
Income Tax Act, 1961 Short deduction of TDS filing o.1g}Financial yea |As per notice Not paid

 

Clause (vii)(b)
According to the information and explanations given to us, there are no dues of income t
following:

ax, goods and service tax, duty of customs and cess which have not been deposited by the

 

mpany with the appropriate authorities on account of any dispute except for the

 

IName of Statute

Nature of the dues

‘Amount demanded
(Rs. in million)

"Amount paid under

protest (Rs. in
million)

Periods to which the amount
relates

Forum where the dispute is pending

 

 

[The Income tax Act, 1961

[Disallowance of expenses

 

 

 

Financial year 2015-16

 

 

[CIT Appeals

 

* The assessing officer has disallowed expenses amounting to Rs 5.88 million, thus impacting the carry forward losses against which appeal is pending with the authorities

310

 
