Intangible Assets, Net

12 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 7 – INTANGIBLE ASSETS, NET

	As of March 31,			As of March 31,
	2021			2020
Land use right, cost	$	879,886		$	811,194
Software, cost		1,084,858			-
Total		1,964,744			811,194
Less: accumulated amortization		(132,645	)		(91,472	)
Intangible assets, net	$	1,832,099		$	719,722

The Company purchased several software to support its business operation in fiscal year 2021.

As of March 31, 2021 and 2020, the Company pledged its land use right on its land with a carrying value of $758,504 (29,720 square meters) and $719,722 (29,720 square meters), respectively, as the collateral for a short-term bank loans (see Note 9).

Amortization expense was $31,425, $16,502 and $17,076 for the years ended March 31, 2021, 2020 and 2019, respectively.

Estimated future amortization expense is as follows as of March 31, 2021: 

Years ending March 31,	Amortization expense
2022	$	126,084
2023		126,084
2024		126,084
2025		126,084
2026		126,084
Thereafter		1,201,679
	$	1,832,099