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ACCOUNTS DEPTT. GGSM PRESENTATION FOR JULY, 2007

ACCOUNTS DEPTT. GGSM PRESENTATION FOR JULY, 2007. CREDIT MANAGEMENT. Debtors of the Group & Avg. collection period as on Apr’07 to July’07 (Rs. in lacs). Note: June’07 & July ‘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 JULY, 2007

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  1. ACCOUNTS DEPTT.GGSM PRESENTATION FOR JULY, 2007

  2. CREDIT MANAGEMENT

  3. Debtors of the Group & Avg. collection period as on Apr’07 to July’07 (Rs. in lacs) Note: June’07 & July ‘07 mths C&F Agents few Sale bills not received. Sale figures & Debtors to that extent as at 31.7.2007 is Rs. 245 lacs & has been updated in the above figure.

  4. Credit Mgt. – Debtor’s Ageing (31.7.07) (Rs. in lacs)

  5. SALES TAX

  6. Status Of Pending Sales Tax Forms(NZ) As On 31.07.07 (Amt. in lacs)

  7. Status Of Pending Sales Tax Forms(EZ) As On 31.07.07 (Amt. in lacs)

  8. Status Of Pending Sales Tax Forms(WZ) As On 31.07.07 (Amt. in lacs)

  9. SALES TAX EXEMPTION Co./ Balance Amt. Present Sale Amt. Period by which Unit Exemption Exemption required exemption available as on 31.7.07%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 31.07.07 - - - -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 Tribunal rejected our appeal. Now we have to go in High Court (matter of Amalgamation). Appeal has been filed in July’07. 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 – Notice received & hearing attended. Reply to be filed after receipt of querry. (Asses. in progress & Questionnaire awaited.) SEPL 2002-03 -Appeal raised by Deptt. -Reply Filed. AO awaited 2002-03 -TDS related notice recd. & reply filed. 2001-02 -Appeal by DCIT (Income Tax Deptt) hearing dt. 20.03.07. A.Order awaited 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 JUL’07

  19. ACHIEVEMENTS 1. Sheela Woodbridge : Revised Business plan submitted on 20th July’07 & 4th Board of Directors Meeting. Agenda & Director’s DIN were initiated. 2. TDS Certificates for salary, contractors, professionals, Commission, Interest etc. were dispatched. 3. CIT Appeal of Income Tax hearing were attended. 4. Revised KRAs & Job Descriptions for the year 2007-08 initiated and expected to complete in August’07. (Three KRA’s & job description has been finalized). 5. Allied reconciliation for year ending 06-07 confirmed. 6. Started Data Freezing in phase manner - Sale Data, TDS Data. 7. Filed Individuals Income Tax Returns of all Directors

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

  21. THANK YOU. ANY QUESTION

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