50
th
ANNUAL REPORT 2015-2016 THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
100
THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING SHARE CAPITAL)
NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
As at
As at
31.03.2016
31.03.2015
Rupees
Rupees
Rupees
THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
( A COMPANY LIMITED BY GUARANTEE AND NOT HAVING SHARE CAPITAL )
NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
10 LONG TERM LOANS & ADVANCES :
(Considered Good unless otherwise stated)
Secured Loan
House Building Advances
17,44,537
17,41,078
Tax Deducted at Source / Refund Receivable
29,75,47,199
22,46,66,050
Entertainment Duty Paid under protest (
Refer Note No."23")
3,23,425
3,23,425
Unsecured Loan :
Indian Diamond Institute, Surat
50,00,000
50,00,000
Refundable Seed Fund to India Diamond Trading Centre (Associate)
1,66,99,975
-
Service Tax Input Credit Receivable
4,18,93,829
3,91,32,021
Service Tax Paid under Protest, Appeal pending
1,10,65,583
1,10,65,583
26,533
34,543
Loans due by subsidiaries:
Indian Institute of Gems & Jewellery Jaipur (Sitapura) -
(
Refer Note No. " 4
")
94,52,206
94,52,206
Indian Institute of Gems & Jewellery New Delhi
-
40,00,000
G & J KYC Information Centre
43,55,630
-
38,81,08,918
29,54,14,906
11 OTHER NON-CURRENT ASSETS
11.1 Other Bank Balances
Term deposits maturing beyond 12 months period
43,98,36,662
48,25,63,204
(including interest accrued Rs. 1,44,80,885; 2014-2015: Rs. 1,84,98,694)
11.2 Training Aids :
(As valued, verified & certified by the Regional Directors)
Diamonds, Precious and Semi-precious stones
1,52,774
1,52,774
Gem Testing Laboratory, Jaipur
Tools and Consumable
Regional Office, Jaipur
90,464
90,464
Precious Metals and Consumables
2,49,269
2,49,269
Indian Institute of Gems & Jewellery- Tardeo
Precious Metals and Consumables
15,862
15,862
Indian Institute of Gems & Jewellery- Manikanchan, Kolkatta
Specimens (RCCI - SDC)
33,978
33,978
Gem Testing Laboratories, Jaipur
5,42,347
5,42,347
44,03,79,009
48,31,05,551
Note:- 1)
Valuation being a technical matter, is incorporated in the accounts as
certified by the concerned Reginonal Directors and accepted by the Auditors
12 TRADE RECEIVABLES :
Sundry Debtors
( Unsecured), (Considered Good unless stated otherwise)
Debts outstanding for a period exceeding six months
Considerd Doubtful
19,36,274
16,38,533
Less : Provision for Doubtful Debts
19,36,274
16,38,533
-
-
Others - Considered Good
1,06,84,099
48,25,222
Debts outstanding for a period less than six months
1,02,30,697
80,64,659
2,09,14,796
1,28,89,881
13 CASH & CASH EQUIVALENTS :
13.1 Cash and Cash Equivalents
- Cash on hand
1,66,663
1,73,839
- Foreign Currency in hand
-
12,731
(As verified and certified by the Executive Director)
Advances recoverable in cash or in kind or for value to be received
As at
As at
31.03.2016
31.03.2015
Rupees
Rupees
Rupees
THE GEM & JEWELLER EXPORT PROMOTION COUNCIL
( A COMPANY LIMITED BY GUARA TEE ND NO HAVING SHARE CAPITAL )
NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
10 LONG TERM LOANS & ADVANCES :
(Considered Good unless otherwise stated)
Secured Loan
House Building Advances
17,44,537
17,41,078
Tax Deducted at Source / Refund Receivable
29,75,47,199
22,46,66,050
Entertainment Duty Paid under protest (
Refer Note No."23")
3,23,425
3,23,425
Unsecured Loan :
Indian Diamond Institute, Surat
50,00,000
50,00,000
Refundable Seed Fund to India Diamond Trading Centre (Associate)
1,66,99,975
-
Service Tax Input Credit Receivable
4,18,93,829
3,91,32,021
Service Tax Paid under Protest, Appeal pending
1,10,65,583
1,10,65,583
26,533
34,543
Loans due by subsidiaries:
India Institute of Gems & Jewellery Jaipur (Sitapura) -
(
Refer Note No. " 4
")
94,52,206
94,52,206
Indian Institute of Gems & Jewellery New Delhi
-
40,00,000
G & J KYC Information Centre
43,55,630
-
38,81,08,918
29,54,14,906
11 OTHER NON-CURRENT ASSETS
11.1 Other Bank Balances
Term deposits maturing beyond 12 months period
43,98,36,662
48,25,63,204
(including interest accrued Rs. 1,44,80,885; 2014-2015: Rs. 1,84,98,694)
11.2 Training Aids :
(As valued, verified & certified by the Regional Directors)
Diamonds, Precious and Semi-precious stones
1,52,774
1,52,774
Gem Testing Laboratory, Jaipur
Tools an Consumable
Regional Office, Jaipur
90,464
90,464
Precious Metals and Consumables
2,49,269
2,49,269
Indian Institute of Gems & Jewellery- Tardeo
Precious Metals and Consumables
15,862
15,862
Indian Institute of Gems & Jewellery- Manikanchan, Kolkatta
Specimens (RCCI - SDC)
33,978
33,978
Gem Testing Laboratories, Jaipur
5,42,347
5,42,347
44,03,79,009
48,31,05,551
Note:- 1)
Valuation being a technical matter, is incorporated in the accounts as
certified by the concerned Reginonal Directors and accepted by the Auditors
12 TRADE RECEIVABLES :
Sundry Debtors
( Unsecured), (Considered Good unless tated otherwise)
Debts outstanding fo a period exceeding six mo ths
Considerd Doubtful
19,36,274
16,38,533
Less : Provision for Doubtful Debts
19,36,274
16,38,533
-
-
Others - Considered Good
1,06,84,099
48,25,222
Debts outstanding for a period less than six months
1,02,30,697
80,64,659
2,09,14,796
1,28,89,881
13 CASH & CASH EQUIVALENTS :
13.1 Cash an Cash Equivalents
- Cash on hand
1,66,663
1,73,839
- Foreign Currency in hand
-
12,731
(As verified and certified by the Executive Director)
Postage stamps on hand
(being balance of Franking Machine Account)
179
170
1,66,842
1,86,740
Advances recoverable in cash or in kind or for value to be received
Book Overdraft with Scheduled Banks due to issuance of cheques
3,42,29,537
9,56,37,284
Outstanding Liabilities for expenses
1,27,50,847
1,44,82,050
Provisiion for CSR Expenses
1,07,14,781
-
Notes:
10,58,50,564
16,39,35,373
1
9 N CUR ENT I VESTMENTS :
Trade Investments, Unquoted (At Cost)
51 00 000
51 00 00
1,25,00,000
1,25,00,000
1,76, 0,000
1,76,00,000
5,10,000 Equity Shares of Rs. 10 each, fully paid up of National Skill
Development Corporatio Ltd.
12,50,000 Equity ha es of Rs. 10 each, fully paid up of The Gem & Jewellery
Skill Council of India Lt .
The Council has received grant of
Rs. 2,80,00,000
(2014-2015: Rs.
2,32,00,000) under ssistance to States for Developing Export Infrastructure
& Allied Activity (ASIDE) Scheme from the Government of India. This grant
is required to be utilised not later than 31st March, 2016. Pending such
utilisation the same has been included under the head 'Other Current
Liabilities'.
