Property, Plant and Equipment, Net (Tables)

3 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment, net

	As of			As of
	June 30, 2020			March 31, 2020
Land (1)	$	1,831,192		$	1,831,192
Property and buildings		432,562			432,562
Equipment and machinery (2)		7,790,211			7,630,255
Office and electric equipment		798,012			793,405
Automobiles		480,687			480,687
Leasehold improvements		2,766,566			2,765,610
Subtotal		14,099,230			13,933,711
Construction in progress (3)		194,752			194,752
Less: Accumulated depreciation and amortization (4)		(8,366,351	)		(7,954,299	)
Property and equipment, net	$	5,927,631		$	6,174,164

(1) On August 7, 2019 and February 6, 2020, the Company, through Jerash Garments, purchased 12,340 square meters (approximately three acres) and 4,516 square meters (approximately 48,608 square feet) of land in Al Tajamouat Industrial City, Jordan (the "Jordan Properties"), from third parties to construct a factory and a dormitory for the Company's employees, respectively. The aggregate purchase price of the Jordan Properties was JOD1,177,301 (approximately US$1.7 million).

(2) On June 18, 2019, the Company acquired all of the outstanding shares of Paramount, a contract manufacturer based in Amman, Jordan. As a result, Paramount became a subsidiary of Jerash Garments, and the Company assumed ownership of all of the machinery and equipment owned by Paramount. Paramount had no other significant assets or liabilities and no operating activities or employees at the time of acquisition, so this transaction was accounted for as an asset acquisition. $980,000 was paid in cash to acquire all of the machinery and equipment from Paramount and the machinery and equipment were transferred to the Company.

(3) The construction in progress account represents costs incurred for constructing a dormitory, which was previously planned to be a sewing workshop. This dormitory is approximately 4,800 square feet in the Tafilah Governorate of Jordan. Construction has been temporarily suspended since March 2020 due to the COVID-19 pandemic and is expected to resume before the end of fiscal 2021.

(4) Depreciation and amortization expenses were $412,054 and $338,652 for the three months ended June 30, 2020 and 2019, respectively.