66 e) Current tax liabilities (` lakhs) Particulars 2018-19 2017-18 Opening balance 2.84 19.02 Add: Current tax payable for the year 460.00 484.13 Less: Taxes paid (446.67) (500.33) Closing balance 16.17 2.83 f) Current tax assets (` lakhs) Particulars 2018-19 2017-18 Opening balance 9.74 5.52 Add: Tax paid in advance, net of provisions during the year - 4.22 Closing balance 9.74 9.74 g) Deferred tax liabilities (net) The balance comprises temporary differences attributable to the below items and corresponding movement in deferred tax liabilities | (assets): (` lakhs) Particulars As at March 31, 2019 Charged | (Credited) to profit or loss As at March 31, 2018 Charged | (Credited) to profit or loss As at March 31, 2017 Property, plant and equipment 17.63 4.51 13.12 8.65 4.48 Total deferred tax liabilities 17.63 4.51 13.12 8.65 4.48 Expenses disallowed under Section 40(a) of the Income Tax Act, 1961 8.56 7.40 1.16 0.08 1.08 Finance lease transaction 5.36 0.73 4.63 (0.17) 4.80 Compensated absences 6.01 1.12 4.90 0.45 4.44 Property, plant and equipment - - - - - Total deferred tax assets 19.94 9.25 10.69 0.37 10.32 Net deferred tax (assets) | liabilities (2.30) (4.74) 2.43 8.28 (5.84) Note 25.5 Employee benefit obligations Funded scheme a) Defined benefit plans: Gratuity The Company operates a gratuity plan through the ‘Rudolf Atul Chemicals Ltd Employees Group Gratuity Assurance Scheme’. Every employee is entitled to a benefit equivalent to 15 days salary last drawn for each completed year of service subject to maximum of ` 20 lakhs in line with the Payment of Gratuity Act, 1972 or Company scheme whichever is more beneficial to employees. The gratuity is payable at the time of separation from the Company or retirement, whichever is earlier. The benefits vest after five years of continuous service.
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