Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 134 (vii) (a) In our opinion, and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including goods and services tax, provident fund, employees’ state insurance, income-tax and other material statutory dues, as applicable, with the appropriate authorities. Further, no undisputed amounts payable in respect thereof were outstanding at the year-end for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, there are no statutory dues referred in sub-clause (a) which have not been deposited with the appropriate authorities on account of any dispute except for the following: Name of the statute Nature of dues Gross Amount ( ` in millions) Amount paid under Protest ( ` in millions) Period to which the amount relates Forum where dispute is pending Andhra Pradesh General Sales Tax Act, 1957 Purchase Tax 9.51 1.14 2001-02 The High Court of Judicature at Hyderabad for the State of Telangana Sales Tax/ VAT 4.69 - 2008-09 The Central Sales Tax Act, 1956 Sales Tax/ VAT 1.59 1.59 2010-11 Joint Commissioner of commercial taxes (Appeals), Bangalore 2.15 1.58 2011-12 0.73 0.73 2012-13 Telangana Tax on Entry of Goods into Local Areas Act, 2001 Entry tax 0.41 0.10 2011-12 The High Court of Judicature at Hyderabad for the State of Telangana 2.72 0.68 2012-13 3.82 0.95 2013-14 0.29 0.07 2014-15 0.41 0.10 2015-16 2.70 0.68 2016-17 0.02 0.01 2017-18 Haryana Murrah Buffalo and other Milch Animal Breed Act, 2001 Milk cess 10.31 3.48 December 2014 to September 2019 The Supreme Court of India Andhra Pradesh Tax on Entry of Goods into Local Areas Act, 2001 Entry tax 0.86 0.02 2014-15 The High Court of Judicature at Amaravathi for the State ofAndhra Pradesh 1.55 0.04 2015-16 1.36 0.03 2016-17 0.00 0.00 2017-18 Central GST Act, 2017 Short payment of GST on Flavored Milk 88.83 35.18 July 2017 to March 2020 The High Court of Judicature at Amaravathi for the State of Andhra Pradesh Central GST Act, 2017 Short payment of GST on Flavored Milk 7.53 5.03 July 2017 to March 2021 Director General of GST Intelligence, Bengaluru Zonal Unit Income Tax Act, 1961 Disallowance of expenses 5.21 0.48 Assessment year 2017-18 and 2018-19 Commissioner of Income Tax (Appeals) (viii) According to the information and explanations given to us, no transactions were surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961) which have not been recorded in the books of accounts. (ix) (a) According to the information and explanations given to us, the Company has not defaulted in repayment of its loans or borrowings or in the payment of interest thereon to any lender. (b) According to the information and explanations given to us including representation received from the management of the Company, and on the basis of our audit procedures, we report that the Company has not been declared a willful defaulter by any bank or financial institution or other lender. (c) In our opinion and according to the information and explanations given to us, the Company has not raised any money by way of term loans during the year and there has been no utilisation during the current year of the term loans obtained by the Company during any previous years. Accordingly, reporting under clause 3(ix)(c) of the Order is not applicable to the Company. (d) In our opinion and according to the information and explanations given to us, and on an overall examination of the financial statements of the Company, funds raised by the Company on short term basis have not been utilised for long term purposes.