Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 30

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 of accounts receivable were as follows:

    (In USD)
    As at 
    June 30,
 2025  
    March 31,
 2025 

    Accounts receivable 
    $107,919  
    $214,083 
  
    Allowance
    for credit losses 
     (13,391) 
     (13,433)
  
    Net accounts receivable 
    $94,528  
    $200,650 

The Company records an allowance for credit losses for amounts owed
for completed transactions that may never settle or be collected. For the quarter ended June 30, 2025, allowance amounting to $Nil was
created for expected credit losses respectively (March 31, 2025:$Nil).

Movement in allowance for expected credit loss

    (In USD)
    As at 
    June 30,
 2025  
    March 31,
 2025 

    Balance at the beginning of the period 
    $13,433  
    $13,774 
  
    Foreign
    currency translation adjustment 
     (42) 
     (341)
  
    Closing balance 
    $13,391  
    $13,433 

6Balances with government authorities

The components of balances with government authorities
were as follows:

    (In USD) As at 
    June 30, 2025  
    March 31, 2025 
  
    Current 

    Goods and service tax receivable 
    $3,744,170  
    $3,941,649 
  
    Less: Impairment* 
     (3,742,356) 
     (3,754,191)

    $1,814  
    $187,458 

  * As of June 30, 2025, the impairment amounts to $3,742,356 ( March 31, 2025 : $3,754,191) for the estimated losses resulting from substantial doubt about the utilization of the tax credits. This allowance for impairment of tax credits was determined by estimating future uses of tax credits against output Goods and Service Tax (“GST”). No impairment allowance has been created for the period ended June 30, 2025. 

24

ZOOMCAR HOLDINGS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

7 (a) Other current assets