FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

(Rs. '000)

Particulars

30.06.2020

30.06.2019

ADVANCES

1

Reserve deposits with ceding companies

76179 670

79431 434

2

Application money for investments

 0

533 434

3

Prepayments

179 264

108 508

4

Advances to  Directors/Officers

4 246

6 355

5

Advance tax paid and taxes deducted at source (Net of provision for taxation)

8011 602

5909 454

6

Others

429 129

906 183

7

Deferred Commission

 0

 0

TOTAL (A)

84803 911

86895 368

OTHER ASSETS

1

Income accrued on investments

10521 319

10917 611

2

Outstanding Premiums

3

Agents’ Balances

4

Foreign Agencies Balances

5

Due from other entities carrying on insurance business  (including reinsurers)

245684 191

224007 732

6

Due from subsidiaries/ holding

7

Deposit U/S-7 of Insurance Act

 0

 0

8

Sundry Debtors

257 285

324 290

9

Sundry Deposits

13744 097

11559 642

10

Provision for Gratuity

 0

 69

11

MAT Credit

14405 245

14442 938

12

Service Tax Unutilised Credit

 0

 0

13

GST Asset

871 606

1547 528

14

VAT Asset Dubai

 0

 0

TOTAL (B)

285483 743

262799 810

TOTAL (A+B)

370287 654

349695 178

Notes:

(a)        The items under the above heads shall not be shown net of provisions for doubtful amounts. The amount of provision against each head should be shown separately.

(b)        The term ‘officer’ should conform to the definition of that term as  given under the Companies Act, 2013.

(c)        Sundry Debtors will be shown under item 9(others)