Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1876

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1876
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     (341) 
     - 
  
    Closing balance 
    $13,433  
    $13,774 

F-24

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7Balances with government authorities

The components of balances with government authorities were as follows:

    (In
    USD)
    As at 
    March 31,
 2025  
    March 31,
 2024 
  
    Current 

    Goods and service tax receivable 
    $3,941,649  
    $4,277,019 
  
    Less: Impairment* 
     (3,754,191) 
     (3,849,317)

    $187,458  
    $427,702 
  
    Non-current 

    Other tax receivables 
    $-  
    $18,126 

    $-  
    $18,126 

  * During the year ended March 31, 2025, the Company recorded an allowance for impairment of tax credits amounting to $NIL and (March 31, 2024: $3,849,317) for estimated losses resulting from substantial doubt about the utilization of the tax credits. The change in the closing balance of Impairment is on account of foreign exchange differences on remeasurement
in reporting currency. 

8Short term investments

The components of short term investments were as follows:

    (In
    USD)
    As at 
    March 31,
 2025  
    March 31,
 2024 

    Certificate of deposits 
    $-  
    $298,495 
  
    Short term investments 
    $       -  
    $298,495 

9(a) Other current assets

The components of other current assets were as follows:

    (In
    USD)
    As at 
    March 31,
 2025  
    March 31,
 2024 

    Security deposits 
    $24,997  
    $98,813 
  
    Franchise tax refund receivable 
     84,490  
     84,490 
  
    Advance to employees 
     29,730  
     15,159 
  
    Receivables from car sale 
     57,892  
     90,244 
  
    Other rece