Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount
of its assets and liabilities.

Deferred tax assets include Minimum Alternate Tax (“MAT”) paid in accordance with the tax laws in India, which
is likely to give future economic benefits in the form of availability of set-off against future tax liability.
Accordingly, MAT is recognised as deferred tax asset in the Balance sheet when the asset can be measured reliably
and it is probable that the future economic benefit associated with the asset will be realized.

Property, Plant and Equipment and Depreciation on Property, Plant and Equipment

Property, plant and equipment are stated at costs less accumulated depreciation (other than freehold land) and
impairment loss, if any.

The cost includes purchase price net of any trade discounts and rebates, any import duties and other taxes (other
than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the
asset ready for its intended use, other incidental expenses and interest on borrowings attributable to acquisition of
qualifying fixed assets up to the date the asset is ready for its intended use. Subsequent expenditure on fixed assets
after its purchase / completion is capitalized only if such expenditure results in an increase in the future economic
benefits from such asset beyond its previously assessed standard of performance.

Depreciation is provided for property, plant and equipment on the straight-line method over the estimated useful
life from the date the assets are ready for intended use. The estimated useful lives, residual values and depreciation
method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for
on a prospective basis.

Depreciation on Property, Plant and Equipment has been provided on the straight-line method as per the useful
life prescribed in Schedule II to the Companies Act, 2013.

Estimated Useful Life of the various categories of Property, Plant & Equipment in Go Fashions are as below:

1. Plant & Machinery (SLM % 6.33 / 15 years) 2. Vehicles (SLM% 11.88 / 8 years) 3. Furniture (SLM% 9.50 /
10 years) 4. Office Equipments (SLM% 19/5 years) 5. Computers (SLM% 31.67 / 3 years)

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are
expected to arise from the continued use of the asset. Any gain or loss on disposal or retirement of an item of
property, plant and equipment is determined as the difference between the sale proceeds and the carrying amount
of the asset and is recognised in the Statement of Profit and Loss.

Capital work in progress

Amount paid towards the acquisition of property, plant and equipment outstanding as of each reporting date and
the cost of property, plant and equipment not ready for intended use before such date are disclosed under capital
work-in-progress. The capital work- in-progress are carried at cost, comprising direct cost, related incidental
expenses and attributable interest.

Intangible assets

Intangible assets purchased are measured at cost as of the date of acquisition, as applicable, less accumulated
amortization and accumulated impairment, if any.

Intangible assets comprise of computers and are amortized on a straight line basis over their estimated useful lives

of 3 years. The estimated useful lives of the intangible assets and the amortization period are reviewed at the end
of each financial year and the amortization period is revised to reflect the changed pattern, if any.

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