Deopura & Associates 50-A, Sarvaritu Vilas Chartered Accountants Udaipur - 313 001

Phone: 2485666

AUDITOR'S REPORT To,

The Members,

Udaipur Chamber of Commerce & Industry

Udaipur - 313 003

1- We have audited the attached Balance Sheet of UDAIPUR CHAMBER OF COMMERCE & INDUSTRY

(the “Chamber”) as at 31st March, 2018 and also the Income and Expenditure account for the year ended on

that date, annexed thereto (collectively referred to as the “financial statements”) . These financial statements

are the responsibility of the management of the Chamber. Our responsibility is to express an opinion on these

financial statements based on our audit.

2- We conducted our Audit in accordance with the auditing standards generally accepted in India. Those

Standards require that we plan and perform the audit to obtain reasonable assurance about whether the

financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence

supporting the amounts and disclosures in the financial statements. An Audit also includes assessing the

accounting principles used and significant estimates made by management, as well as evaluating the overall

financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3- Further to our comments referred to above, we report that :-

a) We have obtained all the information and explanations which to the best of our knowledge and belief

were necessary for the purposes of our audit. b) In our opinion, proper books of accounts as required by law have been kept by the Chamber so far as

appears from our examination of those books.

c) The financial statements dealt with by this report are in agreement with the books of account.

4- In our opinion and to the best of our information and according to the explanations given to us, the said

financial statements together with the notes and accounting policies thereon and attached thereto give a true

and fair view in conformity with the accounting principles generally accepted in India, in the case of ;

a) the Balance sheet, of the state of affairs of the Chamber as at 31st March, 2018; and

b) the Income and Expenditure account, of the surplus for the year ended 31st March, 2018.

For Deopura & Associates (FRN:002012C)

Chartered Accountants

(M. L. Deopura)

Udaipur. The 9th May, 2018. Partner

M.No.070357

( Amount in Rs.)PARTICULARS SCHEDULE As at As at

31.03.2018 31.03.2017SOURCES OF FUNDS1 Capital Fund :

Balance b/d 30973686 29781880Add : Net surplus for the year 57492 36806 : From new members 450000 205000 : Capacity Building Fund capitalised 260000 31741178 950000 30973686

2 Other Funds : 'A'Environment Park Development Fund 142448 194148Building & Infrastructure Mtc.Fund 650000 500000Hazardous waste Mgmt. Fund 2300000 0Capacity Building Fund 1295000 805000Legal Fund 457054 32677H W M Projects Fund 573382 573382UCCI Excellance Awards Fund 3518406 8936290 1610432 3715639

3 Current Liabilities & Provisions 'B' 403734 68674441081202 35376069

APPLICATION OF FUNDS1 Fixed Assets : 'C'

Gross Block 34636706 33514551Less : Accumulated depreciation 6984362 5540150Net Block 27652344 27974401

2 Fixed Deposits 'D' 10785614 43090233 Security, Deposits & Advances 'E' 813133 6888114 Current Assets 'F' 1830111 2403834

41081202 35376069Notes on Accounts & Accounting Policies 'L' 0 0

In terms of our report of even date.For Deopura & Associates For Udaipur Chamber of Commerce and Industry Chartered Accountants

Hony.Treasurer Hony. Secy. GeneralUdaipur, The 9th May, 2018

UDAIPUR CHAMBER OF COMMERCE & INDUSTRY

BALANCE SHEET AS AT 31ST MARCH, 2018

(M.L.Deopura) (Hansraj Choudhary) (Jatin Nagori) (Anil Mishra) Partner President

( Amount in Rs.)PARTICULARS SCHEDULE Year Ended Year Ended

31.03.2018 31.03.2017

INCOMES1. From Members & Others 'G" 5097627 42404842. Other income 'H" 2482770 2146066

7580397 6386550EXPENDITURES3. Charitable,Educational & Industrial

programmes 'I' 2341173 9589864. Administrative 'J' 2718005 24525135. Others 'K' 709515 678535

5768693 4090034SURPLUS BEFORE DEPRECIATION 1811704 2296516Depreciation 'C' 1444212 1359710NET SURPLUS / DEFICIT (-) FOR THE YEAR 367492 936806Less:Prior period expenses 10000 0Balance appropriated to Projects Funds :

a) Building & Infrastructure Maintenance 150000 400000b) Capacity Building 150000 300000 500000 900000

SURPLUS / DEFICIT (-) CARRIED TO BALANCE SHEET 57492 36806In terms of our report of even date.For Deopura & Associates For Udaipur Chamber of Commerce and Industry Chartered Accountants

Partner President Hony.Treasurer Hony. Secy. General

Udaipur, The 9th May, 2018

(M.L.Deopura) (Hansraj Choudhary) (Jatin Nagori) (Anil Mishra)

UDAIPUR CHAMBER OF COMMERCE & INDUSTRY

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH , 2018

As at As at31.03.2018 31.03.2017

SCHEDULE - AOTHER FUNDS

a. ENVIRONMENT PARK DEVELOPMENT FUND Balance b/d 194148 487103 Add -Contribution received during the year 48300 107045

242448 594148 Less:Bal.tfr.to capacity Building Fund 100000 142448 400000 194148

b. BUILDING & INFRASTRUCTURE MAINTENANCE FUND Balance b/d 500000 100000 Add:Transferred from Income & Exp. A/c 150000 650000 400000 500000

c. HAZARDOUS WASTE MGMT. FUND Balance b/d 0 0 Add:HWM fund received during the yr. 2300000 2225000

2300000 2225000 Less:Transferred to "RWMP" during the year 0 2300000 2225000 0

d. CAPACITY BUILDING FUND Balance b/d 805000 355000 Add:Tfr.from UCCI Excellance Award Fund 500000 500000 Add:Transferred from Income & Exp. A/c 150000 500000 Add:Tfr.from Environment Park Development Fund 100000 400000

1555000 1755000 Less:Bal.tfr.to capital fund being utilised 260000 1295000 950000 805000

e. LEGAL FUND Balance b/d 32677 0 Add:Received during the year 811907 1718062

844584 1718062 Less:Expenses incurred during the year 387530 457054 1685385 32677

f. H W M PROJECTS FUND (E-Waste and Bio-medical) Balance b/d 573382 573382 573382 573382

g. UCCI EXCELLANCE AWARDS FUND Balance b/d 1610432 0 Add:Received during the year 2778475 2566000 Add:Intt.accrued/received on Funds (Bank) 122135 16886

4511042 2582886 Less:Expenses incurred during the year 492636 472454 Less:Transferred to "Capacity Building Fund" 500000 3518406 500000 1610432

SCHEDULE - BCURRENT LIABILITIES & PROVISIONS

1 CREDITORS FOR EXPENSES & OTHERSExpenses payable-Chamber 167326 84105Expenses payable-Capital Expenditures 0 78500Keshav Maloo & Associates 3000 3450Café mansi 14864 0Security Deposit (Arcgate) 100000 100000TDS payable 16700 2154Service tax payable 0 55745Swach Bharat Cess payable 0 4484Krishi Kalyan Cess payable 0 2346UCCI's SSI Members (Germany Hannover visit) 0 301890 349090 679874

2 ADVANCE SUBSCRIPTIONFrom members for the ensuing year -Annual & Additional 76000 6870 -Attestation and others 6844 0 -Advertisement publication 10000 0 -Programme Fund 9000 101844 0 6870

403734 686744

SCH

EDU

LE -

CFI

XED

ASS

ETS

GR

OSS

BLO

CK

DEP

REC

IATI

ON

NET

BLO

CK

AS

AT

(+) A

DD

ITIO

N /

(-)D

ED

UC

TIO

NA

S A

TU

P T

OFO

R T

HE

UP

TO

AS

AT

AS

AT

S.

DE

SC

RIP

TIO

N O

F A

SS

ETS

1.4.

2017

>180

DA

YS

<180

DA

YS

31.0

3.20

181.

4.20

17Y

EA

R31

.03.

2018

31.0

3.20

1831

.03.

2017

No. 1

Bui

ldin

g26

7703

3416

0808

026

9311

4237

4975

311

5906

949

0882

222

0223

2023

0205

812

Env

ironm

ent P

ark

land

& D

evel

opm

ent

3368

584

8068

419

522

3468

789

00

034

6878

933

6858

43

Furn

iture

,Fix

ture

s &

Offi

ce E

quip

men

ts33

7563

341

0095

1357

5839

2148

617

9039

720

6321

1996

718

1924

768

1585

236

4In

tang

ible

Ass

ets(

Web

site

& M

obile

App

.)0

3152

890

3152

890

7882

278

822

2364

670

TOTA

L33

5145

5196

6875

1552

7934

6367

0655

4015

014

4421

269

8436

227

6523

4427

9744

01

PR

EV

IOU

S Y

EA

R F

IGU

RE

S31

8668

9064

2848

1004

813

3351

4551

4180

440

1359

710

5540

150

2797

4401

2768

6450

As at As at31.03.2018 31.03.2017

SCHEDULE - DFIXED DEPOSITS (includes interest accrued)1 S.B.I., M.I.A., Udaipur 22941 216462 S.B.I., M.I.A., Udaipur 3459082 12963743 Punjab National Bank,Chetak Circle,Udaipur 2555236 10266964 ICICI Bank ,MIA,Udaipur (UCCI Excellance Award A/c) 3423971 15129455 ICICI Bank ,MIA,Udaipur 1324384 10785614 451362 4309023

10785614 4309023SCHEDULE - ESECURITY, DEPOSITS & ADVANCESI Security & Deposits :

B.S.N.L.(Telephone) 19250 19250B.S.N.L.(Internet) 1250 1250LPG Connection 4050 4050P.H.E.D. 9000 9000RIICO Ltd. 100000 100000A.V.V.N.L. 47573 181123 47573 181123

II Advancesa) Subscription for Affiliation 26894 26894 26906 26906b) Others Advances

Service tax pre-deposit @7.5% (subject to appeal) 74915 74915U.I.W.M. & R. C. (Trust) 75343 96403Prepaid Expenses 23385 27906Mahendra Singhvi, Advocate (Mining) 0 36300Deopura & Associates Tax Payment A/c 0 2254Service tax receivable 44533 0GST receivable 132777 0Income Tax TDS 254163 605116 243004 480782

813133 688811

SCHEDULE - F1 CURRENT ASSETS

Receivable & AdvancesSubscription ,Contribution & others -Rajasthan Waste Management Project (EM Fee) 561469 565016 -Ministry of Small Scale Ind., New Delhi 0 436364 -Quality Council of India, New Delhi (ZED) 52414 287500 -Miscellaneous receivables 167260 0 -Staff advance 0 781143 34500 1323380

2 CASH AND BANK BALANCES

Cash in hand 8040 8416PayUmoney wallet 10297 0Cash at Banks

S.B.I.,MIA 71972 851362ICICI Bank,MIA 12061 41007ICICI Bank,MIA (UCCI Excellance Award A/c) 71887 93546Punjab National Bank,Chetak Circle (100226) 862587 70228

Postage stamps in hand 3199 1040044 716 1065275

3 INVENTORYStationeries 8925 8925 15179 15179

1830111 2403834

YEAR ENDED YEAR ENDED31.03.2018 31.3.2017

SCHEDULE TO THE INCOME & EXPENDITURE ACCOUNTSCHEDULE - G

INCOME FROM MEMBERS & OTHERS1 Annual Subscription 2580000 23930002 Certificate of Origin 686200 8281003 Admission Fee 675000 3200004 Associate Membership 42000 510005 Voluntary Donations 1114427 5097627 648384 4240484

SCHEDULE - HOTHER INCOME

1 Interest on Bank FDR's 398513 1948952 Interest on Saving Bank & Autosweep A/c 52162 1566423 Interest on I.T. refund 6384 26304 Environment Monitoring 1060355 9945815 Miscellaneous Receipts 33771 648006 Vocational Training Centre 194966 07 Social service project receipts 323500 08 HWM processing fee 368700 425189 ZED Programme 44419 500000

10 News letter & bulletins 0 2482770 190000 2146066

SCHEDULE - ICHARITABLE, EDUCATIONAL & INDUSTRIALPROGRAMME EXPENSES

10 Vocational Training Centre 407529 2341173 0 958986SCHEDULE - J

ADMINISTRATIVE EXPENSES1 Travelling & conveyance 4120 50712 Printing & Stationery 43889 287933 Postage & Courier 51616 1585924 Salaries & Allowances 1520370 14693985 Electricity, Power & Fuel 419915 3030456 Bank & wallet Charges 9124 25337 Telephone, Internet & SMS 95626 799798 Membership & Affiliation 81007 771109 Membership Mementos 13750 15904

10 Insurance 35210 3313111 Office & Miscellaneous 62929 4730612 Books & Periodicals 13940 1356213 Repair & Maintenance 240789 13338014 Legal & Professional 105720 6470915 Auditor's Remuneration 20000 2718005 20000 2452513

SCHEDULE - KOTHER EXPENSES

1 Plantation & Lawn 197538 1914722 Security charges 288000 2886003 Interest & fee:GST/Service tax 5987 59734 Interest on TDS 3059 7325 Economic rent-RIICO 15000 1166 Water Charges 4743 41047 House Keeping Service 195188 709515 187538 678535

1 Meeting, Conference & Academic 290166 403602 Workshop, Seminars & Training 247615 799223 News Letter & Bulletin Publication 109711 3520264 Social Service-Clean n Green Project 300700 44405 HWM Project Development 276827 476136 ISO Certification & Audit fee 8844 317487 UCCI Annual Day Programme 194092 1767428 Technology Business Incubation Center 500000 09 ZED Programme 5689 226135

AMOUNT AMOUNT

Cash in Hand 8040.00 PayUmoney wallet 10297.29 P.N.B.-Chetak Circle 862587.38 SBI,MIA 71971.71 ICICI,MIA 12060.71 ICICI,MIA(UCCI Excellance Award)71887.46

Total 15696127.82 Total 15696127.82In terms of our report of even date. 0.00For Deopura & Associates For Udaipur Chamber of Commerce and Industry Chartered Accountants

Udaipur.The 9th May, 2018

RECEIPTS & PAYMENTS ACCOUNT FOR THE YEAR ENDED 31st MARCH, 2018

RECEIPTS PAYMENTS

(M.L. Deopura) (Hansraj Choudhary) (Jatin Nagori ) ( Anil Mishra ) Partner President Hony. Treasurer Hony. Secy. General

93546.00 By Repair & Maintenance 240239.44To Annual Subscription 2573130.00 By Salaries & Allowances 1485870.00To Admission Fee 675000.00 By Travelling & Conveyance 4120.00To Certificate of origin fee 686200.00 By Printing & Stationery 37634.50To Associate membership fee 42000.00 By Electricity,Power & Fuel 394934.00To Capital Fund 450000.00 By Prior period exp. 10000.00To Environment Park Development Fund 48300.00 By Water Charges 3044.00To HWM processing fee 368700.00 By Office & Miscellaneous 62929.36To Programme Fund 561373.00 By Books & periodicals 12539.90To Voluntary Donations 1037393.17 By Bank & wallet Charges 9124.11To Interest on S.B. A/c 52162.00 By Membership & Affiliation fee 80995.00To Miscellaneous Receipts 22416.04 By Plantation & Lawn 197538.00To Advance Subscription 101844.00 By Telephone, Internet & SMS 102729.51To Hazardous waste mgmt. Fund 2300000.00 By Postage & Courier 51616.00To Environment monitoring fee 487428.00 By Insurance 33422.46To Receivables (Ramky,QCI) Trust25 873725.00 By News letter & Bulletin Publication 109711.00To Income Tax refund 91276.00 By Security charges 288000.00To Workshop,seminar & training receipts 148390.00 By Expenses Payable (2016-17) 87480.00To UCCI Excellance Awards Receipts 2686425.58 By Creditors 57950.00To Social Service Project Receipt 323500.00 By Building 160807.63To Vocational Training Centre 194966.33 By Environment park land & development 100205.00To ZED Program Receipts 60472.00 By Furniture, Fixtures & Office equipment 545853.12To Legal Fund 808602.13 By Website & Mobile App. 315289.00To Interest on FDR 6882.00 By Bank Fixed Deposits 5990000.00To Interest on IT refund 6384.00 By GST & ST receivable 176231.17To U.I.W.M.& R.C. (Trust) 25000.00 By ISO Certification Audit Fee 8844.00

By Legal & Professional(mining) 275000.00By Legal & Professional 102720.33By Interest & Fee:Service tax,TDS & GST 9046.00By Social service clean n green project 300700.00By House Keeping Exp. 195188.01By HWM project Exp. 280767.00By Members Net-working programme 586097.91By UCCI Excellance Awards 492636.07By ZED Program Expenses 66161.00By UCCI Annual Day Programme 194092.00By Membership Mementos 13749.76By Vocational Training Centre 359995.88By Balance c/d 1036844.55

To Balance b/d 1064558.57 By Technology business incubation centre 500000.00 Cash in Hand 8416.00 By Service tax (2016-17) 62575.00 P.N.B.-Chetak circle 70227.99 By TDS Payable (2016-17) 2154.00 SBI,MIA 851361.87 By Meeting,Conference & Academic 202891.75 I.C.I.C.I.,MIA 41006.71 By Workshop,Seminar & Training 448401.36 ICICI,MIA(UCCI Excellance Award)

SCHEDULE - L

ACCOUNTING POLICIES AND NOTES ON ACCOUNTS YEAR: 2017-2018

A. ACCOUNTING POLICIES

1. The Mercantile method of accounting has been followed and Income and Expenditure are recognized onaccrual basis.

2. (a) Fixed assets are carried at cost of acquisition less depreciation till the year ending. Depreciation isprovided on the written down value of the assets in accordance with the Income Tax Act, 1961. Nodepreciation has been provided on “Environment Park land” being total cost pertains for land filling,landscaping and land development.

3. As per the Minutes of the Executive Committee Meeting, following accounting adjustments have beenprovided:

a) Out of the receipts during the year, Rs.1.50 lacs has been appropriated towards “Capacity Building Fund”and Rs.1.50 lacs towards “Building & Infrastructure Maintenance Fund”.

b) Funds of Rs.5.00 lacs have been transferred from the “UCCI Excellence Awards Fund” to the “CapacityBuilding Fund“ being twenty percent share of the UCCI as stipulated.

c) Receivables from Ministry of Small Scale Ind., New Delhi Rs. 4,36,364/- has been written off throughUCCI’s SSI members (Germany Hannover visit) payable amounts Rs.349090/-, owing not received andbalance Rs.87274/- being share of the UCCI adjusted to expenses.

d) Funds of Rs.1.60 lacs has been transferred from the “Capacity Building Fund” and Rs.1.00 lacs from“Environment Park Development Fund” to the “Capital Fund“ being utilized in building construction andEnvironment Park land development.

4. Amounts received for specific purposes have been duly credited to their respective reserve fund account andfollowing this ,UCCI Excellence Awards Fund has also been earmarked. Interest earned on such fund havebeen credited to Fund account only.

5. Capital expenditures incurred for Vocational Training Centre operation Rs.471253/- has been capitalizedunder fixed assets.

B. ACCOUNTING NOTES

1. Financial figures have been rounded off to the nearest rupee.

2. Previous year's figures have been regrouped/rearranged wherever necessary.

3. Income and Expenditure have been netted wherever necessitated in the Income & Expenditure account.

4. Provision for Taxation has not been made in view of the exemption available u/s 11 of the Income Tax Act,1961.

5. Contingent Liabilities:

ParticularsCompetent Authority

passing order

Year towhich

orders relate

Liabilitiesquantified as

per orders(Rs.)

ContingentLiabilities

(Rs.)Remarks

Service taxAdjudicationorder dated17.10.2011

Hon’ble CESTAT, NewDelhi

2005-06 to2007-s08

26,55,353/-tax and

26,60,353/-penalty

53,15,706

Appeal filed bythe Department

before theHon’ble Raj.

High Court dt.23.11.2016

Service taxAdjudicationorder dated23.12.2014

The Asstt.Commissioner, ServiceTax Division, Udaipur

July,2012 toMarch,2013

1,93,380/-taxand

1,93,380/-penalty

3,86,760

Appeal filedbefore the

Commissioner(Appeals)

Service taxAdjudicationorder dated21.08.2015

The Asstt.Commissioner, ServiceTax Division, Udaipur

April,2013to March,

2014

2,59,585/-taxand

25,959/-penalty

2,85,544

Appeal filedbefore the

Commissioner(Appeals)

No provisions provided against these contingent liabilities in the books of accounts as per the legal opinion ofthe experts that liabilities will not arise in view of the judgments of the Hon’ble CESTAT incase of FICCI vs.Commissioner Service Tax, New Delhi reported at 2014-TIOL-701-CESTAT-DEL as well as incase of theUCCI itself for the year 2005-06 to 2009-10.

Schedules “A” to “L” are forming part of the Balance Sheet and Income & Expenditure Account for the yearended 31.03.2018.

Signature to the Schedule A to L.In terms of our report of even date.For Deopura & Associates For Udaipur Chamber of Commerce & Industry

Chartered Accountants

(M.L. Deopura) (Hansraj Choudhary) (Jatin Nagori) (Anil Mishra)Partner President Hony. Treasurer Hony. Secy. General

M.No.070357

Udaipur. The 9th May,2018.