Property, Plant and Equipment

12 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following as of March 31, 2019 and 2018:

	As of March 31,
	2019			2018
Buildings	$	9,273,325		$	9,481,048
Machinery		2,150,738			2,471,925
Furniture, fixture and electronic equipment		172,552			179,173
Vehicles		68,360			73,202
Total property plant and equipment, at cost		11,664,975			12,205,348
Less: accumulated depreciation		(3,857,930	)		(3,414,795	)
Property, plant and equipment, net	$	7,807,045		$	8,790,553

As of March 31, 2019 and 2018, the Company pledged its building with a carrying value of approximately $3.1 million and $3.3 million, respectively, as the collateral for short-term bank loans (see Note 9).

Depreciation expense was $682,462 and $119,762 for the years ended March 31, 2019 and 2018, respectively. Capitalized depreciation in inventories was $568,017 and $569,238 for the years ended March 31, 2019 and 2018, respectively.