Page 327 - Tata Chemical Annual Report_2022-2023

Integrated Annual Report 2022-23 01-83 84-192 193-365
Integrated Report Statutory Reports Financial Statements
Consolidated

Footnote: 22. Deferred tax assets (net) and liabilities (net)
(i) Other provisions include:
` in crore ` in crore
Asset Provision Provision for Total
retirement for emission litigations Particular As at As at
Particulars March 31, 2023 March 31, 2022
obligation allowance and others
(1) (2) (3) (a) Deferred tax assets (net) (footnote 'i') 144 -
Balance as at April 1, 2021 199 92 141 432 (b) Deferred tax liabilities (net) (footnote 'ii') (1,935) (2,037)
Provisions pertaining to discontinued operation - - 8 8
(Phosphatic Fertilisers business) Footnote:
Provisions recognised during the year 17 37 7 61 2022-23
Payments/utilisations/surrenders during the year (9) (89) (1) (99) (i) Deferred tax assets (net)
Exchange fluctuations 7 - - 7
Balance as at March 31, 2022 214 40 155 409 As at Recognised in Recognised in Recognised Exchange As at
Provisions pertaining to discontinued operation - - 8 8 Particular April 1, 2022 profit or loss profit or loss in Other fluctuations March 31, 2023
(Phosphatic Fertilisers business) (continuing (discontinued Comprehensive
Provisions recognised during the year 19 - 15 34 operations) operations) Income
Payments/utilisations/surrenders during the year - (39) (1) (40) Deferred tax assets/(liabilities) in relation to:
Exchange fluctuations 17 (1) - 16 Property, plant and - 59 - - 5 64
Balance as at March 31, 2023 250 - 177 427
equipments and
intangible asset
Balance as at March 31, 2022
Non-current 201 - - 201 Mark to market gains - - - 8 (1) 7
Current 13 40 155 208 on mutual funds and
Total 214 40 155 409 derivatives
Defined benefit - - - 42 2 44
Balance as at March 31, 2023 obligation
Non-current 237 - - 237
Current 13 - 177 190 - 59 - 50 6 115
Total 250 - 177 427 Tax losses - 28 - - 1 29

Nature of provisions: - 87 - 50 7 144
(1) Provision for asset retirement obligation represents site restoration expense and decommissioning charges in India and cost
towards reclamation of the mine and land upon the termination of the partnership in USA. The timing of the outflows is expected Management have used the detailed business plan forecasts for the next 5 years (consistent with the value in use forecasts used in
to be within a period of 1 to 95 years from the date of Consolidated Balance Sheet. impairment testing) and have adopted a tapering approach and recognised proportionate Deferred tax assets.
(2) Provision for emission allowance represents obligations to surrender carbon emission allowances under the UK/EU emissions
trading scheme. The timing of the outflows is expected to be within a period of one year from the date of Consolidated
Balance Sheet.
(3) Provision for litigations and others represents management's best estimate of outflow of economic resources in respect of water
charges, entry tax, land revenue and other disputed items including direct taxes, indirect taxes and other claims. The timing of
outflows is uncertain and will depend on the cessation of the respective cases.

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