AGS Transact Technologies Limited

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

 

Securevalue India Lim

Clause (vi)(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 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’ state insurance, Income-tax, Goods and service tax, Cess and other statutory dues were in arrears as at 31 March 2020 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

 

Financial year

 

 

 

 

ldeducted at source

}2017-18 and 2018-19

|The Central Goods and Service Tax Act, 2017 onGi i 12.33 next mon
i Interest on Goods and service tax 7018-19 and 2019-20 [20t of each next month Not paid
. Financial year
The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Provident fund contribution 164/819 {15th of each next month Not paid
; a s Financial year 680.3 855 and SCS
|The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Interest on ESIC 0.20 51900 15th of each next month Paid on 18 April 2020, 27 April 2020 and 30 July 2020
Income Tax Act, 1961 tiveseat oa lng fee Gna Gian [nunc yet 7th of each next month Not paid

 

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) mae
The Income tax Act, 1961 Income tax and interest Nil [Financial year 2016-17 rT Appeals
the income tax Act, 1961 income tax and interest Nil[Financial year 2017-18 [CIT 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 44.82 million. The matter was investigated and the concerned employees have been dismissed. The Company has recovered amount aggregating

to Rs 33.48 million of the misappropriated funds and has debited the statement of profit and loss with the balance of Rs 11.34 million. We are informed that no fraud was committed by the Compa

309

 

 
