AGS Transact Technologies Limited

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

Securevalue India 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 Ci

 

ympany, amounts deducted accrued in the books of account in respect of undisputed statutory dues of Provident fund, Employ.

 

* state insurance,

Income-tax, Goods and service tax and cess have not been regularly deposited with the appropriate authorities and there have been serious delays in large number of cases. As explained to us, the Company does not have any dues on account of Service tax, Sales tax,

Value added tax, Duty of customs and Duty of excise during the year.

‘According to the information and explanations given to us, no undisputed amounts payable in respect of Provident fund, Employees

‘more than six months from the date they became payable, except as disclosed below

 

state insurance, Income-tax, Goods and service tax, Cess and other statutory dues were in arrears as at 31 March 2021 for a period of

 

‘Name of Statute

Nature of the dues

Amount
(Rs. in million)

Periods to which the
amount relates

Due date

Date of payment

 

|The Central Goods and Service Tax Act, 2017

interest on Goods and service tax

0.98

Financial year
2018-19 and 2019-20

120th of each next month

 

|The Central Goods and Service Tax Act, 2017

interest on Goods and service tax

9.47

Financial year 2020-21

120th of each next month

 

interest on provident fund

Financial year

 

lthe Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 637 5 next mon 35 mil :
ploy Lene oe 15th of each next month Rs 3.5 millon paid on 30 April 2021
Irhe Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Interest on provident fund 56.17 [Financial year 115th of each next month 29 April 2021
contribution 2020-21

 

Income Tax Act, 1961

[Short deduction, Interest and filing
fee on tax deducted at source

2.39

Financial year 2018-19
Jand 2019-20

}7th of each next month

 

Income Tax Act, 1961

[Tax Deducted at Source and
interest thereon

16.17

Financial year 2020-21

7th of each next month

 

|The Employees State Insurance Act, 1948

ESIC Contributions and Interest

&

Financial year 2020-21

15th of each next month,

[Rs 2.81 million paid on 30 April 2021 and 5 May 2021

 

 

Clause (vii)(b)
According to information and explanations given to us, there are no dues of Income-tax,

 

Goods and service tax and Cess which have not been deposited by the Company with the appropriate authorities on account of any dispute, except as disclosed below:

 

IName of Statute

Nature of the dues

Amount demanded

‘Amount paid under
protest (Rs. in

Periods to which the amount

Forum where the dispute is pending

 

 

 

 

 

 

 

 

 

 

 

 

million) =
The Income tax Act, 1961 Income tax and interest Nil [Financial year 2016-17 SIT Appeals
the income tax Act, 1961 Income tax and interest Nil[Financial year 2017-18 [CIT Appeals
The Income tax Act, 1961 Income tax and interest Nill Financial year 2018-191 SIT Appeals

 

The amount has been adjusted by tax authorities against refund received during the year.

Clause (x)

During the year, there were cases of misappropriation of cash committed by employees on the Company, aggregating to Rs 101.70 million. The matter was investigated and the concerned employees have been dismissed. The Company has recovered amount aggregating
to Rs 46.22 million of the misappropriated funds and has debited the statement of profit and loss with the balance of Rs 55.48 million. We are informed that no fraud was committed by the Company.

305

 
