Page 140 - KRCL ENglish

Sr. No.
Emphasis
of Matter Statutory Auditor's Remarks
Para:
Goods and Services Tax (GST) has
not been nalized for the Financial
Year 2018-19 due to pending
reconciliation with the ITC reected
in GST portal.
L) We draw attention to the face of
Balance Sheet related to Trade
payables and Note No. 26 of the
standalone nancial statements,
w h e r e i n a m o u n t s a r e
disclosed related to Micro and
Small Enterprises as per the
disclosure requirement of
Schedule III of the Companies Act
2013.
M) We draw attention to Non-
compliances of the Company Law
Matters related to:
I. Non Compliance of Section
149 (4) of Companies Act,
2013, Regulation 17 (b) of the
SEBI Listing Obligation and
Disclosure Requirement and
Clause 3.1.4 of the Guidelines
on Corporate Governance for
C e n t r a l P u b l i c S e c t o r
Enterprises w.r.t. composition
of the Board of Directors of the
Company.
138
Management Reply
Financial Year 2018-19, has not
been nalized. The company will
nd out the ineligible Input Tax
Credit if any, before completion of
GST Audit for the Financial Year
2018-19 will discharge the same as
per the provision of GST Act.
Special attention is given by KRCL
for timely payment to MSME
vendors. The requisite information
for the disclosure under MSME
n o t Act,2005 will be captured in new
nancial accounting system.
KRCL being a Government
Company, the appointment of
Functional Directors, Central
Government Nominee Directors
and Independent Directors on the
Board is made by the Government
o f I n d i a - G o I ( t h r o u g h
Administrative Ministry i.e. Ministry
of Railways - MoR) and State
Government Nominee Directors by
the respective State Governments
viz: State of Maharashtra, Goa,
Karnataka and Kerala.
A c c o r d i n g l y, K R C L h a v e
requested MoR and respective
State Governments to make
appointment of respective