Annual Report 2011 - 2012 - United Breweries Limited

8. PROVISIONS
Notes to the Consolidated Financial Statements (contd.)
As at
March 31, 2012
Long-term
(All amounts in Rs.lacs, unless otherwise stated)
As at
March 31, 2011
As at
March 31, 2012
As at
March 31, 2012
Short-term
As at
March 31, 2011
7. DEFERRED TAX LIABILITIES (NET)
Deferred tax asset
Provision for doubtful advances and debts 252 888
Gratuity and compensated absenses 506 355
Bonus provision 48 36
Carryforward losses for amalgamated companies 809 8,387
Share of subsidiary 3 2
Gross deferred tax asset 1,618 9,668
Deferred tax liability
Depreciation 5,945 4,581
Deferred tax asset utilised from carry forward loss and depreciation of
amalgamated companies
809 7,973
Gross deferred tax liability 6,754 12,554
Net deferred tax liability 5,136 2,886
Deferred tax asset and liabilities have been set off as they relate to same governing taxation laws.
As at
March 31, 2011
Provision for employee benefits
Gratuity 381 85 182 154
Compensated absenses 727 619 269 230
1,108 704 451 384
Other provisions
Provision for proposed dividend and tax
— — 2,438 2,703
there on
Provision for water charges — — 554 406
Provision for local area development tax — — 406 284
Provision for customs duty — — 168 167
— — 3,566 3,560
Total 1,108 704 4,017 3,944
Local area development tax
As at
March 31, 2012
As at
March 31, 2011
As at
March 31, 2012
Water charges
As at
March 31, 2011
Balance as at the beginning of the year 284 170 406 316
Additions 122 114 148 90
Amounts used — — — —
Unused amounts reversed — — — —
Balance as at the end of the year 406 284 554 406
80
Provision for local area development tax, water charges and customs duty matters are sub-judice. There are no
additions, amounts used or unused amounts reversed during the year with respect to customs duty.