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156
Sixty-Seventh Annual Report 2011-2012
29. Contingent liabilities, commitments (to the extent not provided for) :
Description of claims and assertions where a potential loss is possible, but not probable is reported under note (1) and (2) below :
As at
As at
March 31,
March 31,
1 Claims against the Company not acknowledged as debts -
2012
2011
(i)
Sales tax
- Gross
413.12
1,003.68
- Net of tax
279.08
670.28
(ii) Excise duty
- Gross
656.93
492.55
- Net of tax
443.79
328.94
(iii) Others
- Gross
157.02
156.92
- Net of tax
106.07
104.80
(iv) Income Tax in respect of matters :
(a)
Decided in the Company’s favour by Appellate Authorities
and for which the Department is in further appeal
2.38
2.38
(b) Pending in appeal / other matters
95.20
105.19
2 The claims / liabilities in respect of excise duty, sales tax and other
matters where the issues were decided in favour of the Company for
which the Department is in further appeal
69.77
31.28
3 Other money for which the Company is contingently liable -
(i)
In respect of bills discounted and export sales on deferred credit
139.21
170.60
(ii) The Company has given guarantees for liability in respect of
receivables assigned by way of securitisation
107.80
634.34
(iii) Cash margins / collateral [Note 20, page 152]
90.29
428.82
(iv) In respect of subordinated receivables
9.51
37.16
(v)
Others
6.64
13.68
4 Estimated amount of contracts remaining to be executed on capital
account and not provided for
1,536.25
1,857.43
5 Purchase commitments
12,527.63
14,699.18
(
`
in crores)
NOTES FORMING PART OF FINANCIAL STATEMENTS