GAMMON INDIA LIMITED

Franco Tosi Meccanica S.p.A.
All actuarial gains and losses in equity arising from the discounting as of December 31, 2008 as well
as for the financial year closed as of December 31, 2007, have been wholly recognized in the income
statement.
Note 16. TRADE PAYABLES
Trade payables are analysed as follows:
12.31.2008 12.312007
Total Non-current Current Total Non-current Current
Payables for work orders 34,706,088 34,706,088 36,969,470 36,969,470
Suppliers from Italy 24,131,950 24,131,950 19,066,559 19,066,559
Payables from the Group 0 0 389,052 389,052
Suppliers from abroad 5,401,621 5,401,621 4,486,875 4,486,875
Suppliers for invoices yet to be received 3,847,694 3,847,694 2,856,941 2,856,941
Total 68,087,353 0 68,087,353 63,768,897 0 63,768,897
At the reporting date, the fair value of this item was approximately equal to its carrying amount.
Payables for work orders refer to the gross amount owed to Purchasers for all work orders, for which
the amount invoiced on a percentage of completion basis exceeds the costs incurred – plus margins
earned or net of the realized loss.
Trade payables include accrued payables from suppliers including the invoices yet to be received.
Note 17. TAX PAYABLES
Tax payables are analysed as follows:
12.31.2008 12.312007
Total Non-current Current Total Non-current Current
Tax payables 3,838,971 3,838,971 4,711,229 0 4,711,229
F24 Form – Treasury payments 20,301,735 5,932,490 14,369,245 15,922,745 0 15,922,745
Tax Amnesty Law n. 289/2002 payables paid in installments 0 0 1,209,049 1,209,049
Total 24,140706 5,932,490 18,208,216 21,843,023 0 21,843,023
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F
95