GSK_Annual_Report_2021

Notes to the Consolidated Financial Statements for the year ended March 31, 2021 (contd.) Annual Report 2020-21 209 ( ` in lakhs) Particulars Balance as at April 1, 2019 Due to Change in income tax rate during the FY 2019-20 # Recognised in the Statement of Profit and Loss Recognised in OCI Balance as at March 31, 2020 Deferred tax asset Provision for Employee Benefits 24,91.06 (6,46.94) 6,89.53 64.27 25,97.91 Voluntary retirement schemes 1,65.41 (46.28) 2,62.76 - 3,81.89 Allowance for doubtful debts 6,29.59 (1,76.13) 68.98 - 5,22.44 Interest on income tax refund not accounted but considered as taxable under the Income Tax Act,1961 22,63.88 (6,33.34) - - 16,30.54 Expenses allowable for tax purpose when paid 30,83.98 (8,18.62) 53,74.30 - 76,39.66 Total Deferred tax asset 86,33.92 (23,21.31) 63,95.57 64.27 127,72.44 Deferred tax liabilities Fiscal allowance on Property, Plant and Equipment and Other Intangible assets (24,11.77) 6,74.10 13.87 - (17,23.80) Deferred tax asset (net) 62,22.15 (16,47.21) 64,09.44 64.27 110,48.64 # Adjustment to deferred tax attributable to change in income tax rate from 34.944% to 25.168% during the FY 2019-20. Note 46 : Leases Future contractual charges on leases: The table below provides details regarding the contractual maturities of lease liabilities as at March 31, 2021 on an undiscounted basis: ( ` in lakhs) 0-1 years 1-2 years 2-3 years 3-4 years 4-5 years Above 5 years 14,35.27 10,50.32 6,33.70 2,56.70 84.27 - Right of use asset ( ` in lakhs) Particulars Buildings Balance as on April 1, 2020 39,33.57 Additions 7,77.85 Less: Depreciation (15,84.99) Balance as on March 31, 2021 31,26.43 Other financial lease liabilities ( ` in lakhs) Particulars Buildings Lease liabilities recognised as at April 1, 2020 41,66.30 Additions 7,77.04 Add: Interest accrued during the period 3,18.15 Less: Payments (18,01.23) Lease liabilities recognised as at March 31, 2021 34,60.26 Current lease liabilities 14,35.27 Non current lease liabilities 20,24.99 Borrowing rate - discounting rate used by the Group The lessee’s weighted average incremental borrowing rate applied to the lease liabilities was 7.26% to 7.59%