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ACCOUNTS DEPTT. GGSM PRESENTATION FOR AUGUST, 2007

ACCOUNTS DEPTT. GGSM PRESENTATION FOR AUGUST, 2007. CREDIT MANAGEMENT. Debtors of the Group & Avg. collection period as on May’07 to Aug’07 (Rs. in lacs). Note: July’07 & Aug ‘07 mths C&F Agents few Sale bills not received. Sale figures & Debtors to that extent as at

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ACCOUNTS DEPTT. GGSM PRESENTATION FOR AUGUST, 2007

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  1. ACCOUNTS DEPTT.GGSM PRESENTATION FOR AUGUST, 2007

  2. CREDIT MANAGEMENT

  3. Debtors of the Group & Avg. collection period as on May’07 to Aug’07 (Rs. in lacs) Note: July’07 & Aug ‘07 mths C&F Agents few Sale bills not received. Sale figures & Debtors to that extent as at 31.8.2007 is Rs. 295 lacs & has been updated in the above figure.

  4. Credit Mgt. – Debtor’s Ageing (31.8.07) (Rs. in lacs)

  5. SALES TAX

  6. Status Of Pending Sales Tax Forms(NZ) As On 31.08.07 (Amt. in lacs)

  7. Status Of Pending Sales Tax Forms(EZ) As On 31.08.07 (Amt. in lacs)

  8. Status Of Pending Sales Tax Forms(WZ) As On 31.08.07 (Amt. in lacs)

  9. SALES TAX EXEMPTION Co./ Balance Amt. Present Sale Amt. Period by which Unit Exemption Exemption required exemption available as on 31.8.07%of tax to exhaust & % of tax slab the exemption SLY (X) N.A 100% N.A Jun., 2011 (100%) SLV (IV) N.A 100% N.A Mar., 2013 (100%) RKL(V) N.A 100% N.A Mar., 2013 (100%) SKM N.A 100% N.A Oct’ 2013 (100%) (Disputed for Central Sale)

  10. SALES TAX EXEMPTION & DEFERMENT (Rs. in Crs.) Present Exemption as % of Tax Sale Amt reqd. to exhaust the exemption Period which exemption available & % of tax slab Average sale on the basis of previous 12 month Months reqd. to exhaust sale based on average sale 07-08 Company /Unit Balance Amt of exemption as on 31.08.07 - - - -N I L - - - - Deferment: (Hyd)Scheme under Investment - Rs. 2.19 Crs. repayment w.e.f Apr, 2010Scheme under Expansion - Rs. 2.33 Crs. repayment w.e.f Jun, 2012

  11. SALES TAX ASSESSMENT CompanyF.YearRemarks SBD, SJP 1996-97 Rejoinder Affidavit filed in the Hon’ble High Court, Allahabad GNA (U.P.) 1997-98 regarding taxability on Stock transfer before achieving base 1998-99 production - High court decision awaited. 99-00 & 03-04 1997-98 Second appeal filed by Deptt. against order passed in our favour by Joint Commissioner - Appeal (SIB Matter). Tax demand is Central Rs. 10.65 lacs and Local Rs. 2.28 lacs. Appeal yet to be decided by Tribunal. 2002-03 Matter of Amalgamation remanded from High Court to Assessing Officer. 2003-04 Jt. Comm. (Appeal) rejected our appeal. Now we have to go in Tribunal (matter of Amalgamation ,Entry Tax & Nepal Sale) 2004-05 1) Tax imposed by A.O.(A) Due to non furnishing of Form F on material sent to Auora Foam after job work. (B) Entry tax on kraft paper, LDO and Diesel. We have already taken stay from High Court for both the above cases. Decision awaited. HYD.& PONDI. 2003-04 NIL SILVASSA(IV,V & X) 2004-05 Assessment Completed . SFPL (DELHI) 2006-07 All forms submitted up to Dec’06 with DVAT 51 AFPL (PUNJAB) 2001-02 &03 Assessment order kept in abeyance. KOPL (U.P) 2004-05 Assessment completed VIN POLY 2004-05 Assessment is completed, order awaited due to pending Forms. SERTA (DELHI) 2005-06 Scrutiny matter – Some more required information are to be submitted in the Deptt. 2006-07 All Forms & DVAT 51 submitted up to IVth Quarter. SIKKIM 2001-02 Ass. Pending since 2001-02. C.O. representative to visit EZ

  12. INCOME TAX

  13. INCOME TAX EXEMPTION Unit Accounting Exemption Exemption to Year in % ageComplete by SIL (IV) 2006-07 30% March, 2008 RKL (V) 2006-07 30% March, 2009 SLV (X) 2006-07 30% March, 2008 PONDI (IX) 2006-07 30% March, 2008 SKM 2006-07 100% March, 2013 KALAAMB FACTORY WORK UNDER PROGRESS

  14. INCOME TAX ASSESSMENT Company Assessment Year SFPL 2000-01 - Appeal filed with ITAT. Appeal heard and order awaited. 2001-02 - Appeal filed with ITAT. Appeal heard & decision awaited . 2004-05 - Assessment with DCIT completed. Appeal filed before CIT (A) and hearing attended. Decision is awaited. 2005-06 – Assessment is in progress before Dy. CIT. Next hearing date 12.09.2007. SEPL 2001-02 -Appeal raised by Deptt. -Reply Filed. AO awaited (TDS) 2001-02 -Appeal by DCIT (Income Tax Deptt) hearing dt. 20.03.07. A.Order awaited (Ass. Income Tax. SFIPL 2001-02 Appeal by Deptt. Tribunal hearing completed on 5.5.07 & order awaited.

  15. OTHERS

  16. SUBSIDY STATUS{Summarized} (Rs. in lacs)

  17. SUBSIDY STATUS{Detailed }(Rs.in lacs)

  18. DETAIL OF COMPENSATORY OFF DURING THE MONTH OF AUG’07 ---N I L----

  19. ACHIEVEMENTS/ACTIVITY INITIATED 1. Software Technology Park (STP) application was submitted on dt. 21.8.07 for establishment of 100% EOU of Software/IT Enabled Services. Letter of Permission (LOP) was received on dt. 30.8.07 from STPI. Registration to get complete in Sep’07 month after Custom Bonding is complied (by Alok Sharma). 2. Fixed Assets Mapping by Internal Auditor for GNA Unit was initiated at Corporate. It will follow for H.O. & other Zones. Once list of Assets as per books is finalized, physical verification will commence at Units. 3. Sheela Woodbridge : Business Plan was discussed with Mr. Chris Wennas, MD, Asia Pacific on his visit to India in Aug’07. Board approval is also expected to receive in Sep’07 and will get freezed thereafter. 4. Budget Vs. Actual Mapping for Sales & Mktg. has been initiated with IT Deptt. and GM, Marketing. It is expected to complete in Sep’07. 5. Income Tax Ass. for Ass. Yr. 2005-06 before Dy. CIT has commenced. 6. Reconciliation with Joyce Foam Pvt. Ltd. as on 31.3.07 completed.

  20. POINTS OF GGSM - AUG’07 REVIEW MONTH -- N I L --

  21. THANK YOU. ANY QUESTION

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