m* Eroyjsion, Contingent Liabilities and Contingent Assets :
A provision is recognized when there is a present obligation as a result of past event and it is probable that
an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can
be made.
A disclosure for a contingent liability is made when there is a possible or present obligation that may, but
probably will not require an outflow of resources.
Contingent Assets are neither recognized nor disclosed in the financial statements.
n' Goods and Service Tax (GST1
GST credit on materials purchased for production / service availed for production / input service are taken
into account at the time of purchase and GST credit on purchase of capital items wherever applicable are
taken into account as and when the assets are acquired.
GST credits so taken are utilized for payment of GST on goods sold. The GST credits so taken are utilized for
payment of GST on goods sold. The unutilized GST credit is carried forward in the books.
o. accounting policies not specifically referred to otherwise are consistent with generally accepted accounting
principles.
14. The Company has not received information from vendors regarding their status under the Micro Small &
Medium Enterprise Development Act. 2006 and hence disclosure relating to amount unpaid as at year end
together with interest paid/payable under this act has been not given.
15, Additional Regulation disclosures (other than Accounting Standards)
The disclosures required by amendment to Division I of Schedule til of the Companies Act, 2013, are given
only to the extent applicable:
a. The company has been not declared as willful defaulter by Reserve Bank of India till 31/03/2024.
b. The company does not have any transactions with companies struck off under section 248 of the
Companies Act, 2013.
c. There is not charge which is pending for satisfaction with registrar of companies beyond the statutory
period.
d. There were no transactions that were not recorded in books of accounts and have been surrendered or
disclosed as income during the year in the tax assessments under the income Tax Act, 1961.
e. During the year under Consideration the company has not traded or invested in crypto currency or
virtual currency.
f. No proceedings have been initiated or pending against the company for holding any benami property
under the Benami transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.'
16. Previous year's figures have been regrouped and rearranged wherever necessary, to make them comparable
with those of current year.
(*( AHMEl&BAD
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