157
NOTES FORMING PART OF FINANCIAL STATEMENTS
(
`
in crores)
28.
Contingent liabilities, commitments (to the extent not provided for)
As at
As at
March 31,
March 31,
2014
2013
Description of claims and assertions where a potential loss is possible, but not probable is reported under note (1)
and (2) below :
1 Claims against the Company not acknowledged as debts
(i)
Sales tax
- Gross
869.50
353.54
- Net of tax
573.96
238.84
(ii)
Excise duty - Gross
856.67
867.35
- Net of tax
565.49
585.94
(iii)
Others
- Gross
250.34
173.90
- Net of tax
157.52
117.48
(iv) Income Tax in respect of matters pending in appeal / others
92.58
95.20
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
71.42
70.80
3 Other money for which the Company is contingently liable in respect of bills discounted
and export sales on deferred credit
348.39
204.30
4 Estimated amount of contracts remaining to be executed on capital account and not
provided for
1,629.65
1,526.11
5 Purchase commitments
9,597.72
12,142.44
Independent Auditors’Report
Balance Sheet
(134-169)
Statement of Profit and Loss
Cash Flow Statement
Notes to Accounts
