AGS Transact Technologies Limited

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

 

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, Employees’ state insurance,
Income-tax, Goods and service tax and cess have not been regularly deposited with the appropriate authorities and there have been significant delays. 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 2019 for a period of,
‘more than six months from the date they became payable, except as disclosed below:

 

 

 

Amount Periods to which th
‘Name of Statute Nature of the dues gas erode to wien he Due date Date of payment
(Rs. in million) amount relates
gs aS ae ‘i [Financial year
Hrhe Central Goods and Service Tax Act, 2017 Interest on Goods and service tax Cd L20th of each next month Not paid
; Financial year
Ihe Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Interest on Provident fund 1.28 fpmancily 15th 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:

 

 

 

 

 

 

 

 

 

‘Amount paid under . ‘
Amount demanded : Periods to which th t laces
IName of Statute Nature of the dues sears protest (Rs. in Eee Forum where the dispute is pending
million)
[The Income tax Act, 1961 income tax and interest Nil [Financial year 2016-17, [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 of the Company, aggregating to Rs 40.68 million. The matter was investigated and the concerned employees have been dismissed. The Company has recovered amount aggregating
to Rs 13.75 million of the misappropriated funds and has debited the statement of profit and loss with the balance of Rs 26.93 million. We are informed that no fraud was committed by the Company.

 

India Transact Services Li

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, employees” state
insurance, income tax, goods and service tax and cess have not been regularly deposited with the appropriate authorities and there have been significant delays. 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 e in arrears as at 31 March 2019
for a period of more than six months from the date they became payable, except as disclosed below:

and other statutory dues we

   

 

 

 

 

Amount Periods to which th
Name of Statute Nature of the dues pout ertodis fe whieh the: Due date Date of payment
(Rs. in million) | amount relates
Irhe Central Goods and Service Tax Act, 2017 Interest on Goods and service tax 0.83 Space year l20th of each next month Not paid
: Financial year
Ithe Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 Interest on Provident fund 08 [nancial y 1th of each next month Not paid

 

 

 

 

 

 

 

 

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