Annual Report 2011 - 2012 - United Breweries Limited

7. DEFERRED TAX LIABILITIES (NET)Notes to Financial Statements (contd.)(All amounts in Rs.lacs, unless otherwise stated)As atMarch 31, 2012As atMarch 31, 2011Deferred tax assetProvision for doubtful advances and debts 252 888Gratuity and Compensated absenses 506 355Bonus provision 48 36Carryforward losses from amalgamated company 809 8,387Gross deferred tax asset 1,615 9,666Deferred tax liabilityDepreciation 5,946 4,581Deferred tax asset utilised from carry forward loss and depreciation ofamalgamated company809 7,973Gross deferred tax liability 6,755 12,554Net deferred tax liability 5,140 2,888Deferred tax asset and liabilities have been set off as they relate to same governing taxation lawsAs atMarch 31, 2012Long-termAs atMarch 31, 2011As atMarch 31, 2012Short-termAs atMarch 31, 20118. PROVISIONSProvision for employee benefitsGratuity 381 85 182 154Compensated absenses 727 619 270 2301,108 704 452 384Other provisionsProvision for proposed dividend and— — 2,432 2,700tax there onProvision for water charges — — 554 406Provision for local area development tax — — 406 284Provision for custom duty — — 167 167— — 3,559 3,5571,108 704 4,011 3,941Local area development taxAs atMarch 31, 2012As atMarch 31, 2011As atMarch 31, 2012Water chargesAs atMarch 31, 2011Balance as at the beginning of the year 284 170 406 316Additions 122 114 148 90Amounts used — — — —Unused amounts reversed — — — —Balance as at the end of the year 406 284 554 406Provisions for local area development tax, water charges and custom duty matter are sub judice. There are noadditions, amounts used or unused amounts reversed during the year with respect to customs duty.46