Notes to Accounts of Has Lifestyle Ltd.

Mar 31, 2024

9) Provision for Taxation: -

A tax expense comprises current and deferred tax. Deferred income taxes reflect the impact of timing differences
between taxable income and accounting income originating during the current year and reversal of timing
difference for the earlier years. Deferred tax is measured using the tax rates and the laws enacted or
substantively enacted at the reporting date.

Company is of the opinion that MAT entitlement will be utilized in the specified period. Hence, MAT credit
entitlement is created under Current Assets.

10) Provision: -

Provision are recognized when there is a present obligation as a result of a past event, it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable
estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance sheet date and are not discounted to its present value.

11) GST Payment: -

Company falls under Quick Service Restaurant (QSR) business HSN Code: 996331 under GST. Company pays GST
on the turnover without any input tax credit @ 5% vide Notification No. 46/2017- Central tax (Rate) from Ministry
of Finance.

12) Contingent Liabilities: -

Contingent liability is a possible obligation that arises from past events beyond the control of the company or a
present obligation that is not recognized because it is not possible that an outflow of resources will be required
to settle the obligation.

13) Previous Year figures have been re-grouped/re-classified, wherever necessary to conform to the current year
presentation.

14) Investments: -

Long term investments are stated at cost. The closing stock of equity shares is taken under Share Investments
under Investments in Assets.

15) The closing balances in the financial statements are rounded off to the nearest digits and there may be difference
in the figures in decimals in the Schedules and the financial statements. Also, the Fixed assets, Cash flow
components have been re grouped and hence there may be a difference in the closing balances as on preceding
financial year.

In terms of our report attached.

For Kantilal Jain & Company For and on behalf of the Board of Directors of

Chartered Accountants Has Lifestyle Ltd.

Sd/- Sd/- Sd/- Sd/-

CA Divesh K Jain Hemang Bhatt Niru Kanodia Aarti Pandey

Partner (M.N. 139654) Managing Director Director Company Secretary

Firm No 104739W (DIN:01353668) (DIN:02651444)

UDIN: 24139654BKAHDI2708

Place: Mumbai Place: Mumbai

Date: 30^th MAY 2024 Date: 30^th MAY 2024

---

Mar 31, 2014

1. Previous Year figures have been re-grouped/re-classified, wherever necessary to conform to the current year presentation.

2. Previous year figures are regrouped and rearranged wherever necessary.

3. Related Parties

Name of the related parties and description of their relationship:

1. Key Managerial Personnel Mr. Hemang Bhatt, Executive Director

Mrs. Poonam Yadav, Company Secretary

2. Holding Company * Team India Managers Limited

3. Fellow Subsidiary * Team India Food Private Limited

4. Companies over which HHB Real Estate Private Limited Significant Influence is exercised

* Team India Managers Limited ceases to be the Holding Company of Has Lifestyle Private Limited since 10th March, 2014. Accordingly, Team India Food Private Limited a Subsidiary of Team India Managers Limited also ceases to be the Fellow Subsidiary of Has Lifestyle Private Limited since 10th March, 2014.