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Atul Ltd | Annual Report 2017-18
Note 29.1 Contingent liabilities
(
`
cr)
Particulars
As at
March 31, 2018
As at
March 31, 2017
Claims against the Group not acknowledged as debts in respect of:
i) Excise duty
8.73
8.00
ii) Income tax
7.87
8.23
iii) Sales tax | VAT
0.67
0.68
iv) Service tax
0.15
0.01
v) Custom duty
1.94
–
vi) Water charges
90.73
89.28
vii) Others
5.92
6.02
The above matters are currently being considered by the tax authorities | various forums and the Group expects the judgement
will be in its favour and has therefore, not recognised the provision in relation to these claims. Future cash outflow in respect
of above will be determined only on receipt of judgement | decision pending with tax authorities | various forums. The above
(except in respect of water charges matter) excludes interest | penalties which may become payable in case of an unfavourable
outcome.
Note 29.2 Commitments
a)
Capital commitments
Capital expenditure contracted for at the end of the reporting period, but not recognised as liabilities is as follows:
(
`
cr)
Particulars
As at
March 31, 2018
As at
March 31, 2017
Estimated amount of contracts remaining to be executed and not provided for
(net of advances):
Property, plant and equipment
40.20
35.73
b) The Group has a commitment of
`
25.31 cr (Previous year: Nil) towards capital contribution to joint operation.
Note 29.3 Research and Development
Details of expenditure incurred on approved in-house Research and Development facilities:
(
`
cr)
Particulars
2017-18
2016-17
Capital expenditure on building
–
6.07
Other capital expenditure
2.23
12.86
Recurring expenditure
20.59
19.00
22.82
37.93
Notes
to the Consolidated Financial Statements