GSK_Annual_Report_2021

Notes to the Standalone Financial Statements for the year ended March 31, 2021 (contd.) Financial Statements GlaxoSmithKline Pharmaceuticals Limited 132 (d) Movement in deferred tax balances ( ` in lakhs) Particulars Balance as at April 1, 2020 Recognised in the Statement of Profit and Loss Recognised in OCI Balance as at March 31, 2021 Deferred tax asset Provision for Employee Benefits 25,97.91 1,27.13 68.90 27,93.93 Voluntary retirement schemes 3,81.89 (99.21) - 2,82.68 Allowance for doubtful debts 5,22.44 51.86 - 5,74.30 Interest on income tax refund not accounted but considered as taxable under the Income Tax Act,1961 16,30.54 - - 16,30.54 Expenses allowable for tax purpose when paid 74,75.75 (10,33.19) - 64,42.56 Total Deferred tax asset 126,08.53 (9,53.41) 68.90 117,24.01 Deferred tax liabilities Fiscal allowance on Property, Plant and Equipment and Other Intangible assets (17,23.80) 1,66.72 - (15,57.08) Deferred tax asset (net) 108,84.73 (7,86.69) 68.90 101,66.93 Note: Deferred Tax asset will be recognized in the books of account on completion of sale of assets at Vemgal site, after obtaining necessary regulatory approvals. Deferred Tax recognized earlier on Book Depreciation of Vemgal Assets will get reversed in the year of Sale of Vemgal Assets. ( ` 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 29,09.89 (8,13.45) 53,79.31 - 74,75.75 Total Deferred tax asset 84,59.83 (23,16.14) 64,00.58 64.27 126,08.53 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) 60,48.06 (16,42.04) 64,14.45 64.27 108,84.73 # Adjustment to deferred tax attributable to change in income tax rate from 34.944% to 25.168% during the FY 2019-20.