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Atul Ltd | Annual Report 2016-17
Note 29.1 Contingent liabilities
(
`
cr)
Particulars
As at
March 31, 2017
As at
March 31, 2016
As at
April 01, 2015
Claims against the Group not acknowledged as debts in
respects of:
i) Excise duty
8.00
7.70
7.25
ii) Income tax
8.23
9.10
8.56
iii) Sales tax
0.68
0.67
0.67
iv) Service tax
0.01
0.01
0.01
v) Custom duty
–
0.18
0.18
vi) Water charges
89.28
89.65
79.84
vii) Others
6.02
14.42
14.93
viii) In respect of a customer claim amounting to
`
32.35 cr, the
Company, based on legal opinion, believes that the claim will not
sustain.
The above matters are currently being considered by the tax authorities | various forums and the Group expects the judgements
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 potential
undiscounted amount of total payments for taxes that the Group may be required to make if there was an adverse decision
related to these disputed demands of regulators as of the date reporting period ends are as stated above.
Note 29.2 Commitments
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, 2017
As at
March 31, 2016
As at
April 01, 2015
Estimated amount of contracts remaining to be executed and
not provided for (net of advances):
Property, plant and equipment
35.73
47.13
121.86
Note 29.3 Research and Development
Details of expenditure incurred on approved in-house Research and Development facilities.
(
`
cr)
Particulars
2016-17
2015-16
Capital expenditure
12.86
1.32
Recurring expenditure
19.00
18.16
Capital expenditure on building
6.07
–
37.93
19.48
Notes
to the Consolidated Financial Statements