Mar 31, 2015
PARTICULARS
a) Accounting Conventions:
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets
Fixed Assets are stated at cost of acquisition less accumulated
depreciation. *
d) Investments
Investments are stated at cost.
e) Depreciation
Depreciation is provided as per rates prescribed in Schedule II to the
Companies Act, 2013 on Straight Line Method.
f) Taxes on Income
Current tax is determined as per tax payable in respect of taxable
income for the year. Deferred tax for the year is recognized on timing
difference, being difference between taxable income and accounting
income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets and liabilities are
measured assuming the tax rates and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
are recognized and carried forward only if there is a
reasonable/virtual certainty of realization.
g) Foreign Exchange Transaction
i) Foreign currency transaction settled before the end of the year are
accounted for at the rates prevailing on the date of the transactions.
ii) Foreign currency transaction remaining unsettled are restated at
the exchange rates prevailing at the end of accounting year.
f) Revenue Recognition
Sales, inclusive of all taxes are recognized on dispatch, price
adjustment for sales made during a year are recorded upon receipt of
confirmed customer orders.
Mar 31, 2014
A) Accounting Conventions :
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
d) Investments
Investments are stated at cost.
e) Depreciation
Depreciation is provided as per rates prescribed in Schedule XIV to the
Companies Act, 1956 on Straight Line Method.
f) Taxes on Income
Current tax is determined as per tax payable in respect of taxable
income for the year. Deferred tax for the year is recognized on timing
difference, being difference between taxable income and accounting
income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets and liabilities are
measured assuming the tax rates and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
are recognized and carried forward only if there is a
reasonable/virtual certainty of realization.
g) Foreign Exchange Transaction
i) Foreign currency transaction settled before the end of the year are
accounted for at the rates prevailing on the date of the transactions.
ii) Foreign currency transaction remaining unsettled are restated at
the exchange rates prevailing at the end of accounting year.
f) Revenue Recognition
Sales, inclusive of all taxes are recognized on dispatch, price
adjustment for sales made during a year are recorded upon receipt of
confirmed customer orders.
Term Loans Secured by Hypothication of Stock, Book Debts and Fixed
Assets.
Vehicle Loans are secured against vehicle acquired under the scheme.
Secured Loans from Banks are payable in Equal Monthly Installment upto
31st October 2018.
Rate of interest on Secured Term Loans vary between 13% p.a. to 15.25%
p.a.
The rate of interest on Secured Vehicle Loan is 11% p.a.
Mar 31, 2013
A) Accounting Conventions:
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation .
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
d) Investments
Investments are stated at cost.
e) Depreciation
Depreciation is provided as per rates prescribed in Schedule XIV to the
Companies Act, 1956 on Straight Line Method.
f) Taxes on Income
Current tax is determined as per tax payable in respect of taxable
income for the year. Deferred tax for the year is recognized on timing
difference, being difference between taxable income and accounting
income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets and liabilities are
measured assuming the tax rates and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
are recognized and carried forward only if there is a
reasonable/virtual certainty of realization.
g) Foreign Exchange Transaction
i) Foreign currency transaction settled before the end of the year are
accounted for at the rates prevailing on the date of the transactions.
ii) Foreign currency transaction remaining unsettled are restated at
the exchange rates prevailing at the end of accounting year.
f) Revenue Recognition
Sales, inclusive of all taxes are recognized on dispatch, price
adjustment for sales made during a year are recorded upon receipt of
confirmed customer orders.
Mar 31, 2012
A) Accounting Conventions:
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
d) Investments
Investments are stated at cost.
e) Depreciation
Depreciation is provided as per rates prescribed in Schedule XIV to the
Companies Act, 1956 on Straight Line Method.
f) Taxes on Income
Current tax is determined as per tax payable in respect of taxable
income for the year. Deferred tax for the year is recognized on timing
difference, being difference between taxable income and accounting
income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets and liabilities are
measured assuming the tax rates and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
are recognized and carried forward only if there is a
reasonable/virtual certainty of realization.
g) Foreign Exchange Transaction
i) Foreign currency transaction settled before the end of the year are
accounted for at the rates prevailing on the date of the transactions.
ii) Foreign currency transaction remaining unsettled are restated at
the exchange rates prevailing at the end of accounting year.
f) Revenue Recognition
Sales, inclusive of all taxes are recognized on dispatch, price
adjustment for sales made during a year are recorded upon receipt of
confirmed customer orders.
Mar 31, 2011
A) Accounting conventions :
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation:
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
d) Investments: Investments are stated at cost.
e) Depreciation:
Depreciation is provided as per rates prescribed in Schedule XlVto the
Companies act, 1956 on Straight Line Method.
f) Taxes on income: Current tax is determined as per tax payable in
respect of taxable income for the year. Deferred tax for the year is
recognized on timing difference, being difference between taxable
income and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods. Deferred tax
assets and liabilities are measured assuming the tax rates and tax laws
that have been enacted or substantially enacted by the Balance Sheet
date. Deferred tax assets are recognized and carried forward oly if
there is a reasonable/virtual certainty of realization
g) Foreign Exchange Transaction:
i) Foreign currency transaction settled before the end of the year are
accounted for at the rates prevailing on the date of the transactions.
ii) Foreign currency transaction remaining unsettled are restated at
the exchange rates prevailing at the end of accounting year.
h) Revenue Recognition:
Sales, inclusive of all taxes are recognized on dispatch, price
adjustments for sales made during a year are recorded upon receipt of
confirmed customer orders.
i) Excise Duty:
i) Value of closing stocks of finished goods includes excise duty
paid/payable on such stock.
ii) Sales includes excise duty of Rs. 1,09,86,490/=
Mar 31, 2010
A) Accounting Conventions::
The financial statements are prepared under the historical cost
convention on accrual basis.
b) Inventory Valuation:
Inventory of goods are valued at cost or net realizable value whichever
is lower.
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
d) Investments:
Investments are stated at cost.
e) Depreciation:
Depreciation is provided as per rates prescribed in Schedule XIV to the
Companies Act, 1956 on Straight Line Method.
f) Taxes on income :
Current tax is determined as per tax payable in respect of taxable
income for the year. Deferred tax for the year is recognized on timing
difference, being difference between taxable income and accounting
income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax assets and liabilities are
measured assuming the tax rates and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
are recognized and carried forward only if there is a
reasonable/virtual certainty of realization.
g) Excise Duty:
i) Value of closing stocks of finished goods includes excise duty
paid/payable on such stock. ii) Sales includes excise duty of Rs.
1,21,75,988
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