2010-11 - Grasim

UltraTec
ech Cement Limited
SCHEDULE 21 (Contd.)
13.
Defer
erred
red Tax
Assets and Liabilities as on March 31, 2011 1 are as under:
(a) Deferred Tax Liability:
Particulars
` in Crores
Defer
erred
red Tax
Transf
ransfer
erred
red
Current
rent Year
Defer
erred
red Tax
(assets)/
from SCL
Charge/
(assets)/
liabilities
as on
(Credit)
liabilities
as at 01.07
.07.20
.2010,
0, as at
01.04.20
.04.2010 pursuant to 31.03.20
.03.2011
scheme of
Amalgamation
Defer
erred
red Tax
Assets:-
Provision allowed under tax
on payment basis (23.89) (91.36) (46.46)* (161.71)
(23.89) (91.36)
(46.46) (161
61.71)
Defer
erred
red Tax ax Liabilities:-
Accumulated Depreciation 851.87 1,023.23 12.76 1,887.86
Payments allowed under tax
not expensed in books 7.57 - (0.18) 7.39
859.44 1,023.23 12.58
1,895.25
Net Defer
erred
red Tax Liability 835.55 931.87
(33.88) 1,733.54
* Out of ` 46.46 Crores, ` 29.31 Crores adjusted in General Reserve on account of Cost of
assets transferred pursuant to Scheme of Amalgation of SCL with the Company.
(a) Deferred Tax Asset:
` in Crores
Particulars
Defer
erred
red Tax
ax
Current
rent Year
ear
Defer
erred
red Tax
ax
(assets)/
Charge/
(assets)/
liabilities
(Credit)
liabilities
as at
as at
01.04.20
.04.2010 31.03.20
.03.2011
Defer
erred
red Tax
Assets:-
Provision allowed under tax
on payment basis - (1.62) (1.62)
Unabsorbed Losses - (20.54) (20.54)
(22.16)
(22.16)
6)
Defer
erred
red Tax Liabilities:-
Accumulated Depreciation - 18.62 18.62
- 18.62
18.62
Net Defer
erred
red Tax
Asset
- (3.54) (3.54)
Deferred Tax benefits are recognised on assets to the extent that it is more likely than not
future taxable profit will be available against which the asset can be utilised.
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