AGS Transact Technologies Limited

 

Annexure VI: Notes to the Revised Restated Consolidated Finan

Note 39
Contingent liabilities, commitments and others
(0 the extent not provided for)

 

‘A. Contingent liabi
(Rs. in million)

 

 

 

Particulars 31 August2021___31 March 2021 ‘31 March 2020 31 March 2019
‘Claims against the Group not acknowledged as debts 1857 18.77 28.11 17.96
Matters in dispute under appeal

(Sales tax 100.83 103.25 51.27 27.29
(i) Excise duty? 3877 577 577 577
Gi) Custom duty 3.03, 144 1144 1269
iv) Duty entitlement pass book 0.43 043 043 043
() Goods and service tax 0.78 078 0.78 0.78
Other tax matters 56.56 60.02 : :
‘Total 185.97 200.46, 97.80 64,92

 

* Excludes, interest amount which would be finalised during the course of assessment.
Against the above pending tax litigation, the Group has paid Rs. 9.89 million (31 March 2021: Rs.10.19 million, 31 March 2020: Rs 6,20 million, 31 March 2019: Rs. 4.73 million) under protest.

The Group's pending litigations comprise of claims against the Group and pertaining to proceedings pending with Indirect tax authorities. The Group has reviewed all ts pending litigations and proceedings and has
adequately provided for, where provisions are required and disclosed as contingent liabilities where applicable, in its revised restated consolidated financial information. The Group does not expect the outcome of
these proceedings to have a materially adverse effect on its revised restated consolidated financial information

For the assessment year 2017-18, the Company has received an additional demand of Rs. 28.83 million of which Rs. 13.29 million has been adjusted against the refund. The Company has filed an appeal for the

The Company has received a notice fr the delayed payments of TDS forthe financial year 2012-13
“There has been a Supreme Court (SC) judgement dated February 28, 2019, relating to components of salary structure that need tobe taken into account while computing the contribution to provident fund under
the EPF Act. There are imerpretative aspects related to the Judgement including the effective date of application. In view of the management, the lability for the period from date ofthe SC. order to March 31,
2019 is not significant and has been provided inthe books of account. During the year ended March 31, 2020, Group has incorporated the effect of changes in the books of accounts, The Group will continue to
assess any further developments in this matter for the implications on Revised Restated Consolidated financial information, if any. Further, pending decision on the subject review petition and directions from the
EPFO, the impact forthe past period, if any, was not ascertainable and consequently no effect was given inthe accounts.

The code on Social Security, 2020 (code) relating to employee benefits received presidential assent in September 2020. The code has been published in the gazette of India. However, the date on which the code
‘will come into effect has not been notified. The Group will assess the impact of the code when it comes into effect and will record any related impact in the period the codes become effective.

 

B, Capital and other commitments
(Rs. in million)

 

 

 

 

Particulars ‘BM August 202131 March 2021 31March 202031 March 2019
Estimated amount of contracts remaining to be executed on capital account and not provided for 3,258.76 3.11499 1,392.60 1,352.30

‘Oiher investment commitments (refer note 15 (©) - 6,500.00 - 31.13

C. Others

The

 

ympany had received a show cause notice dated 27 July 2020 with respect to lower deployment of White Label ATMs (WLASs) as per the RBI (Reserve Bank of India) circulars on WLASs in India issued
under Payment and Settlement Systems Act, 2007. Management made submission to RBI. However, on 4 March 2021 the licence has been revoked as per the order. RBI reserve its right to take further action as it
may consider necessary. Basis Management assessment, there is no material impact on account of the same. Accordingly, no provision with respect to the same is been accounted for in the Revised Restated

‘consolidated financial information as at 31 August 2021 and as at 31 March 2021.

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