Gillette_India_Limited_AR_20

Annual Report 2019-20 72 Gillette India Limited (ii) The inventory has been physically verified by the Management at reasonable intervals during the year. In our opinion, the frequency of such verification is reasonable. In respect of inventory lying with third parties, these have substantially been confirmed by them. The discrepancies noticed on verification between the physical stocks and the book records were not material. We were not in a position to physically attend the inventory verification scheduled for the year-end due to restrictions on account of health, travel and safety concerns following the nationwide lockdown imposed by the Government of India in view of the COVID-19 pandemic. Consequently, in the absence of physical attendance at the inventory verification, we have conducted alternative procedures and relied on other internal controls for drawing comfort on the inventory as reported in the financial statements as at the year-end. (iii) In our opinion and according to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties covered in the register maintained under Section 189 of the Act. Accordingly, paragraph 3(iii) of the Order is not applicable to the Company. (iv) In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of section 185 and 186 of the Act, with respect to investments made, guarantees given and securities provided. (v) According to the information and explanations given to us, the Company has not accepted deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 of the Act and the rules framed thereunder apply. Accordingly, paragraph (v) of the Order is not applicable to the Company. (vi) The maintenance of cost records has been prescribed by the Central Government under section 148(1) of the Companies Act, 2013 in respect of specified products of the Company. For such products we have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014 as amended and are of the opinion that, prima facie, the prescribed cost records have been made and maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. (vii) According to the information and explanations given to us and records of the Company examined by us, in our opinion: a) the Company is generally regular in depositing the undisputed statutory dues including Provident Fund, Employees’ State Insurance, Income Tax, Duty of Customs, Goods and Services Tax, Cess, Professional Tax and other statutory dues, as applicable, with the appropriate authorities and there are no undisputed amounts which have remained outstanding as at the last day of the financial year, for a period of more than six months from the date they became payable. b) there are no dues of Income Tax, Sales Tax, Service Tax, Duty of Customs, Duty of Excise, Value Added Tax and Goods and Services Tax which have not been deposited with the appropriate authorities on account of any dispute, other than the following: Name of Statute Nature of Dues Forum where Dispute is Pending Period to which the Amount Relates * Amount Involved ( ` in lakhs) ** The Central Excise Act, 1944 Excise Duty Appellate Authority - up to Commissioners / Revisional authorities level 1994-95 to 1997-98, 2002-03 to 2004-05, 2006-07 to 2017-18 30,362 Customs, Excise and Service Tax Appellate Tribunal 2004-05 to 2007-08 8 High Court 1990-91 9