The Warehousing (Development and Regulatory Authority) Annual Statement of Accounts and Records Rules, 2010
Published vide Notification in the Gazette of India, Extra; Part 2, Section 3(i), dated 8th November, 2010.
1757
G.S.R. 888 (E) dated 8th November, 2010. - In exercise of the powers conferred by sub-section (1) of Section 38 read with clause (i) of sub-section (2) of Section 50 of the Warehousing (Development and Regulation) Act, 2007 (37 of 2007), the central Government in consultation with the Comptroller and Auditor-General of India, hereby makes the following rules, namely :-
- Short title and commencement.- (1) These rule may be called the Warehousing (Development and Regulatory Authority) Annual Statement of Accounts and Records Rules, 2010.
(2) They shall come into force on the date of their publication in the Official Gazette.
- Definitions.- (1) In these rules, unless the context otherwise requires,-
(a) "Act" means the Warehousing (Development and Regulation) Act, 2007 (37 of 2007);
(b) "Annexure" means Annexure appended to these rules; and
(c) "Form" means a Form appended to these rules.
(2) Words and expressions used herein but not defined shall have the meaning respectively assigned to them in the Act.
- Annual statement of accounts and other relevant records.- At the expiration of a period of twelve months ending on 31st March of every year, the Authority shall, with reference to that period, prepare a balance-sheet, an income and expenditure account and receipt and payment account in the following Forms, namely :-
(a) Balance Sheet in Form "A";
(b) Income and Expenditure Account in Form "B";
(c) Receipt and Payment Account in Form "C".
- Maintenance of accounts, etc.- The Authority shall preserve the balance sheet, income and expenditure account and receipt and payment account referred to in Rule 3 for a minimum period of five years following the year to which they relate.
- Authorised signatory.- The balance-sheet, income and expenditure account and receipt and payment account referred to in Rule 3 shall be signed by the Accounts Officer, if any, of the Authority and for the purpose of authentication, be signed by the Chairperson and a member of the Authority.
FORM A
(See Rule 3)
The Warehousing Development and Regulatory Authority Balance Sheet as on 31st March.......................
(Amount Rs.)
| Corpus/Capital Fund and Liabilites | Schedule | Current year | Previous year |
| Corpus/Capital Fund and Liabilities | 1 | …............................................................... | ….................................................................... |
| Reserves and Surplus | 2 | …............................................................. | ….......................................................... |
| Earmarked/Endowment Funds | 3 | …............................................................. | …............................................................... |
| Secured Loans and Borrowings | 4 | ….......................................................... | …................................................................ |
| Unsecured Loans and Borrowings | 5 | …........................................................ | ….............................................................. |
| Deferred Cresit Liabilities | 6 | ….......................................................... | …........................................................... |
| Current Liabilities and Provisions | 7 | …........................................................... | …............................................................... |
| Total | …............................................................. | …............................................................. | |
| Assets | ….......................................................... | …................................................................ | |
| Fixed Assets | 8 | …........................................................... | …............................................................... |
| Investments from Earmarked/Endowment Funds | 9 | ….......................................................... | ….......................................................... |
| Investments-Others | 10 | …........................................................... | …................................................................. |
| Current Assets, Loans, Advances etc. | 11 | ….......................................................... | ….......................................................... |
| Miscellaneous Expenditure
(to the extent not written off or adjusted) |
…............................................................. | …................................................................ | |
| Total | ….............................................................. | …......................................................... | |
| Significant Accounting Policies | 24 | …............................................................ | …......................................................... |
| Contingent Liabilities and Notes and Accounts | 25 | …............................................................ | …................................................ |
FORM 'B'
(See Rule 3)
The Warehousing Development and Regulatory Authority Income and Expenditure Account for the Period/Year ended on 31st March ................
(Amount Rs.)
| Income | Schedule | Current Year | Previous Year |
| Income from Sales/Services | 12 | ||
| Grants/Subsidies | 13 | ||
| Fee/Subscriptions | 14 | ||
| Income from Investment (income on Investment from Earmarked/Endowment Funds Transferred to Funds) | 15 | ||
| Income from royalty, Publication etc. | 16 | ||
| Interest Earned | 17 | ||
| Other Income | 18 | ||
| Increase/(decrease) in stock of Finished gods and work-in-progress | 19 | ||
| Total (A) | |||
| Expenditure | |||
| Establishment expenses | 20 | ||
| Other Administrative Expenses etc. | 21 | ||
| Depreciation (Net Total at the year-end-corresponding to Schedule 8) | |||
| Total (B) | |||
| Balance being excess of Income over | |||
| Expenditure (A-B) | |||
| Transfer to Special Reserve (Specify each) | |||
| Transfer to/from General Reserve | |||
| Balance being surplus/(Deficit) Carried to Corpus/Capital Fund | |||
| Significant Accounting Policies | 24 | ||
| Contingent Liabilities and Notes on Account | 25 |
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 1-Corpus/Capital Fund : | Current year | Previous Year | |
| Balance as on the beginning of the year | …........................... | ….......................... | |
| Add : Contribution towards Corpus/Capital Fund | …........................... | …....................... | |
| Add/(Deduct) : Balance of net income/(expenditure) transferred from the Income and Expenditure Account | ….................... | …........................... | |
| Balance as the Year end |
(Amount-Rs.)
| Schedule 2-Reserves and Surplus | Current year | Previous year |
| 1. Capital Reserve :
As per last Account Addition during the year Less : Deductions during the year |
…................................................................. …............................................................... …............................................................. |
…............................................................. …........................................................... ….......................................................... |
| 2. Revaluation Reserve :
As per last Account Addition during the year Less : Deductions during the year |
…................................................................. …................................................................... …................................................................. |
…........................................................................... ….................................................................... …............................................................... |
| 3. Special Reserves :
As per last Account Addition during the year Less : Deductions during the year |
…............................................................... ….............................................................. ….............................................................. |
…........................................................................... …........................................................................... …........................................................................ |
| 4. General Reserves :
As per last Account Addition during the year Less : Deductions during the year |
….................................................................. …................................................................. …................................................................ |
…............................................................................ …........................................................................... ….......................................................................... |
| Total | …............................................................ | …........................................................................ |
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 3-
Earmarked/Endorsement Funds |
Fund-Wise | Break up | Totals | |||
| Fund WW | Fund XX | Fund YY | Fund ZZ | Current Year | Previous Year | |
| Opening balance of the Funds
Addition of the Funds : (i) Donations/grants (ii) Income from investment made on account of funds (iii) Other addition (specify nature) |
…....................
….................... …....................
…..................... |
…..................
….................. ….................
…................ |
….................
…................. …................
…................ |
….......................
…...................... ….....................
…....................... |
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…............................ |
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….......................... …..........................
…........................ |
| Total(a+b) | …..................... | ….................. | …......................... | …....................... | …...... .......... | |
| (c)Utilization/Expenditure towards objective of funds
(i)Capital Expenditure -Fixes Assets -Others |
…......... …........ |
…........... ….......... |
…............. …............ |
…............. …............ |
….............. …............. |
…............... ….............. |
| Total | ||||||
| (ii) Reserve Expenditure
Salaries, Wages and allowances etc. Rent Other Administrative expenses Total |
….................... …................... ….................. …................. |
…................... ….................. …................. …................. |
….................. …................. ….................. ….................. |
….................. …................. …................... …..................... |
….................. …................. …................ ….............. |
…................... ….................. ….................. …................. |
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 4-Secured Loans and Borrowings | Current Year | Previous Year | ||
| 1. Central Government | …............................. | …......................... | ||
| 2. State Government (specify) | …........................... | …........................ | ||
| 3. Financial Institutions | ||||
| (a) Term Loans | ….................... | …..................................... | ||
| (b) Interest accrued and due | …..................... | ….......................... | …................................ | |
| 4. Banks | ||||
| (a)Term Loans | ….................... | ….................................. | ||
| -Interest accrued and due | …................... | ….................................. | ||
| (b) Other Loans (specify) | ….................... | …................................ | ||
| -Interest accrued and due | …................... | …................................ | ||
| …..................... | …........................... | |||
| 5. Other Institutions and Agencies | …....................... | …......................... | ||
| 6. Debentures and Bonds | …....................... | …......................... | ||
| 7. Others (Specify) | …........................ | …......................... | ||
| Total | …......................... | …........................ | ||
| Note-Amounts due within one year | ||||
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 4-Unsecured Loans and Borrowings: | Current Year | Previous Year | ||
| 1. Central Government | …............................. | …......................... | ||
| 2. State Government (specify) | …........................... | …........................ | ||
| 3. Financial Institutions | ||||
| 4. Banks | ||||
| (a)Term Loans | ….................... | ….................................. | ||
| (b) Other Loans (specify) | ….................... | …................................ | ||
| 5. Other Institutions and Agencies | …....................... | …......................... | ||
| 6. Debentures and Bonds | …....................... | …......................... | ||
| 7. Fixed Deposits | …........................ | …......................... | ||
| 8. Others (Specify) | ||||
| Total | …......................... | …........................ | ||
| Note-Amounts due within one year | ||||
(Amount-Rs.)
| Schedule 6-Deferred Credit Liabilities | Current Year | Previous Year |
| (a) Acceptances secured by hypothecation of capital equipment and other assets | …................................................ | …................................. |
| (b) Others | …................................................ | …................................ |
| Total | ….............................................. | ….................................... |
| Note-Amounts due within one year |
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st Mardi ................
(Amount-Rs.)
| Schedule 9-Investments from Earmarked/Endowment Funds: | Current Year | Previous Year |
| 1. In Government Securities | .... | .... |
| 2. Other approved Securities | .... | .... |
| 3. Shares | ||
| 4. Debentures and Bonds | .... | .... |
| 5. Subsidiaries and Joint Ventures | .... | .... |
| 6. Others (to be specified) | .... | .... |
| Total |
(Amount-Rs.)
| Schedule 10-Investments-Others: | Current Year | Previous Year |
| 1. In Government Securities | .... | .... |
| 2. Other approved Securities | .... | .... |
| 3. Shares | …. | …. |
| 4. Debentures and Bonds | .... | .... |
| 5. Subsidiaries and Joint Ventures | .... | .... |
| 6. Others (to be specified) | .... | .... |
| Total | .... | .... |
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 11-Current Assets, Loans, Advances etc.: | Current Year | Previous Year | ||
| A. Current Assets : | .... | |||
| 1. Inventories : | ||||
| (a) Stores and Spares | .... | .... | ||
| (b) Loose Tools | .... | |||
| (c) Stock-in-trade | .... | .... | ||
| Finished Goods | .... | .... | ||
| Work-in-progress | .... | .... | ||
| Raw Materials | .... | ... | ||
| 2. Sundry Debtors : | .... | |||
| (a) Debts Outstanding for a period exceeding six months | .... | .... | ||
| (b) Others | .... | .... | ||
| 3. Cash balances in hand (including Cheques/drafts and imprest) | .... | |||
| 4. Bank Balances : | .... | |||
| (a) With Scheduled Banks : | ||||
| - On Current Accounts | .... | .... | ||
| - On Deposit Accounts (includes margin money) | .... | |||
| - On Savings Accounts | .... | .... | ||
| (b) With non-Scheduled Banks : | ||||
| - On Current Accounts | .... | .... | ||
| - On Deposit Accounts | .... | .... | ||
| - On Savings Accounts | .... | .. | ||
| 5. Post Office-Savings Accounts | .... | |||
| Total (A) | .... | |||
The Warehousing Development and Regulatory Authority Schedules forming part of Balance Sheet as on 31st March ................
(Amount-Rs.)
| Schedule 11-Current Loans, Advances etc. (Contd.) : | Current Year | Previous Year | ||
| B. Loans, Advances and Other Assets | ||||
| 1. Loans : | ||||
| (a) Staff | .... | …. | ||
| (b) Other Entities engaged in activities/objectives similar to that of the Entity | .... | |||
| (c) Other (specify) | .... | .... | .... | .... |
| 2. Advances and other amounts recoverable in cash or in cash in kind or for value to be received : | ||||
| (a) On Capital Account | .... | |||
| (b) Prepayments | .... | |||
| (c) Other | .... | .... | .... | .... |
| 3. Income Accrued : | ||||
| (a) On Investments from Earmarked/Endowment funds | .... | .... | ||
| (b) On Investment Others | .... | .... | ||
| (c) On loans and advance | ||||
| (d) Others (includes income due unrealized-Rs .............) | .... | .... | ||
| 4. Claims Receivable | .... | |||
| Total (B) .... | ||||
| Total (A+B) | .... | |||
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March ................
(Amount-Rs.)
| Schedule 12-Income From Sales/Services | Current Year | Previous Year |
| (1) Income from Sales | ||
| (a) Sale of Finished Goods | .... | .... |
| (b) Sale of Raw Material | .... | .... |
| (c) Sale of Scrapes | .... | .... |
| (2) Income from Services | ||
| (a) Labour and Processing Charges | .... | .... |
| (b) Professional/Consultancy Services | .... | .... |
| (c) Agency Commission and Brokerage | .... | .... |
| (d) Maintenance services (Equipment/Property) | .... | ... |
| (e) Others (Specify) | .... | |
| Total .... |
(Amount-Rs)
| Schedule 13-Grants/Subsidies: | Current Year | Previous Year |
| (Irrevocable Grants & Subsidies Received) | ||
| (1) Central Government | ||
| (2) State Governments | ||
| (3) Government Agencies | ||
| (4) Institutions/Welfare Bodies | ||
| (5) International Organisations | ||
| (6) Others (Specify) | ||
| Total |
(Amount-Rs.)
| Schedule 14-Fees/Subsriptions: | Current Year | Previous Year |
| (1) Entrance Fees | .... | .... |
| (2) Annual Fees/Subscriptions | .... | .... |
| (3) Seminar/Program Fees | ||
| (4) Consultancy Fees | .... | .... |
| (5) Others (Specify) I | ||
| Note:-Accounting Policies towards each item are to be disclosed. |
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March ................
(Amount-Rs.)
| Schedule 15-Income from Investments | Investment from Earmarked fund | Investment Others | ||
| (Income on Investment from Earmarked/Endowment Funds transferred to Funds) | Current Year | Previous Year | Current Year | Previous Year |
| (1) Interest | …... | …... | …... | ….. |
| (a) On Government Securities | ..... | …... | .... | …... |
| (b) Other Bonds/Debentures | ..... | …..... | ….... | …........ |
| (2) Dividends: | ...... | …..... | ....... | …... |
| (a) On Shares | …... | ….. | ….. | ….. |
| (b) On Mutual Fund Securities | …... | ….. | …. | …... |
| (3) Rents | ….. | …... | ….. | ….. |
| (4) Others (Specify) | ….. | ….. | …. | ….. |
| Total | …... | ….. | …. | ….. |
| Transferred to Earmarked/Endowment Funds | ….. | ….. | ….. | ….. |
(Amount-Rs.)
| Schedule 16-Income From Royalty, Publication etc. | Current Year | Previous Year |
| (1) Income from Royalty | .... | .... |
| (2) Income from Publications | .... | .... |
| (3) Other (Specify) | .... | .... |
| TOTAL | .... | .... |
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March ................
(Amount-Rs.)
| Schedule 17-Interest Earned | Current Year | Previous Year |
| (1) On Term Deposits- | ||
| (a) With Scheduled Banks | .... | .... |
| (b) With Non-Scheduled Banks | .... | .... |
| (c) With Institutions | .... | .... |
| (d) Other | .... | .... |
| (2) On Saving Accounts : | … | … |
| (a) With Scheduled Banks | .... | …. |
| (b) With Non-Scheduled Banks | .... | .... |
| (c) Post Office Savings Accounts | .... | |
| (d) Others | .... | .... |
| (3) On loans : | ||
| (a) Employee/Staff | …. | …. |
| (b) Others | ….. | ….. |
| (4) Interest on Debtors and Other Receivable | ||
| Total | ….. | …. |
| Note:-Tax deducted at source to be indicated |
(Amount-Rs.)
| Schedule 18-Other Income | Current | Previous Year |
| (1) Profit on Sale/Disposal of Assets: | .... | .... |
| (a) Owned assets | .... | .... |
| (b) Assets acquired out of grants, or received free of cost | .... | .... |
| (2) Export Incentives realized | .... | .... |
| (3) Fees for Miscellaneous Services | .... | .... |
| (4) Miscellaneous Income | .... | .... |
| Total |
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March ................
(Amount-Rs.)
| Schedule 18-Other Income | Current | Previous Year |
| (1) Profit on Sale/Disposal of Assets: | .... | .... |
| (a) Owned assets | .... | .... |
| (b) Assets acquired out of grants, or received free of cost | .... | .... |
| (2) Export Incentives realized | .... | .... |
| (3) Fees for Miscellaneous Services | .... | .... |
| (4) Miscellaneous Income | .... | .... |
| Total |
(Amount-Rs)
| Schedule 20-Establishment Expenses | Current Year | Previous Year |
| (a) Salaries and Wages | .... | |
| (b) Allowances and Bonus | .... | .... |
| (c) Contribution to Provident Fund | .... | .... |
| (d) Contribution to Other Fund (specify) | .... | .... |
| (e) Staff Welfare Expenses | .... | .... |
| (f) Expenses on Employees' Retirement and Terminal Benefits .... | .... | |
| (g) Other (Specify) | .... | .... |
| Total | .... | .... |
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March................
(Amount-Rs.)
| Schedule 21-Other Administrative Expenses etc. | Current Year | Previous Year |
| (a) Purchases | .... | .... |
| (b) Labour and Processing expenses | .... | .... |
| (c) Cartage and Carriage Inwards | .... | .... |
| (d) Electricity and Power | .... | .... |
| (e) Water Charges | .... | |
| (f) Insurance | .... | .... |
| (g) Repairs and maintenance | .... | .... |
| (h) Excise Duty | .... | .... |
| (i) Rent, Rates and Taxes | .... | .... |
| (j) Vehicles, Running and Maintenance | .... | .... |
| (k) Postage, Telephone and Communication Charges | .... | .... |
| (1) Printing and Stationery | .... | .... |
| (m) Travelling and Conveyance Expenses | .... | .... |
| (n) Expenses on Seminar/Workshop | .... | … |
| (o) Subscription Expenses | .… | …. |
| (p) Expenses on Fees | …. | …. |
| (q) Auditors Remuneration | …. | ….. |
| (r) Hospitality Expenses | ….. | …. |
| (s) Professional Charges | ….. | ….... |
| (t) Provision for Bad and Doubtful debts/Advances | …... | ….. |
| (u) Irrevocable Balance Written-off | ….. | ….. |
| (v) Packing Charges | ….. | ….. |
| (w) Freight and Forwarding Expenses | ….. | ….. |
| (x) Distribution Expenses | ….. | ….. |
| (y) Advertisement and Publicity | ….. | ….. |
| (z) Others (Specify) | ….. | …. |
| Total | ….. | ….. |
The Warehousing Development and Regulatory Authority Schedules forming part of Income and Expenditure for the Period/Year ended on 31st March ................
(Amount-Rs.)
| Schedule 22-Expenditure on Grants, Subsidies etc. | Current Year | Previous Year |
| (a) Grants given to Institutions/Organisations | .... | .... |
| (b) Subsidies given to Institutions/Organisations | .... | .... |
| Total | .... | …. |
Note.-Name of the Entities, their Activities along with the amount of Grants/Subsidies are to be disclosed
(Amount Rs.)
| Schedule 23-Interest | Current Year | Previous Year |
| (a) On Fixed Loans | ….. | ….. |
| (b) On Other Loans (including Bank Charges) | ….. | ….. |
| (c) Other (Specify) | …. | …... |
| TOTAL |
The Warehousing Development and Regulatory Authority Schedules forming part of the Accounts for the Period/Year ended on 31st March ................
Schedules 24-Significant Accounting Policies (Illustrative)
- Accounting Convention :
The financial statements are prepared on the basis of historical cost convention, unless otherwise stated and on the accrual method. The financial statements are prepared on the basis of historical cost convention, unless otherwise stated and on the accrual method of accounting.
- Inventory Valuation:
2.1 Stores and Spares (including machinery spares) are valued at cost.
2.2 Raw materials, semi-finished goods and finished goods are valued at lower of cost and net realizable value. The costs are based on weighted average cost. Cost of finished goods and semi-finished goods is determined by considering material, labour rind related overheads.
- Investments :
3.1 Investments classified as long term investments are carried at cost. Provision for decline, other than temporary, is made in carrying cost of such investments.
3.2 Investments classified as 'Current' are carried at lower of cost and fair value.
Provisions for shortfall on the value of such investments is made for each investment considered individually and not on a global basis.
3.3 Cost includes acquisition expenses like brokerage, transfer stamps.
- Fixed Assets :
4.1 Fixed Assets are stated at cost of acquisition inclusive of inward freight, duties and taxes and incidental and direct expenses related to acquisition, In respect of projects involving construction, related pre-operational expenses (including interest on loans for specific project prior to its completion), form part of the value of the assets capitalized.
4.2 Fixed Assets received by way of non-monetary grants (other than towards the Corpus Fund), are capitalized at values stated, by corresponding credit to Capitalized at values stated, by corresponding credit to Capital Reserve. 5. Depreciation:
5.1 Depreciation is provided of straight-line method as per rates specified in the Income Tax Act, 1961 except depreciation on cost adjustments arising on account of conversion of foreign currency liabilities for acquisition of fixed assets, which is amortized over the residual life of the respective assets.
5.2 In respect of additions to/deductions from fixed assets during the year, depreciation is considered on pro-rata basis.
5.3 Assets costing Rs. 5000 or less each are fully provided.