Intangible Assets, Net

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 7 – INTANGIBLE ASSETS, NET

	As of March 31,			As of March 31,
	2022			2021
Land use right, cost	$	910,808		$	879,886
Customer relationship (Note 14)		8,822,973			-
Trademark		11,027			-
Software, cost		1,127,710			1,084,858
Total		10,872,518			1,964,744
Less: accumulated amortization		(771,113	)		(132,645	)
Intangible assets, net	$	10,101,405		$	1,832,099

As of March 31, 2022 and 2021, the Company pledged its land use right on its land with a carrying value of $93,140 (12,120 square meters) and $758,504 (29,720 square meters), respectively, as the collateral for a short-term bank loan (see Note 10).

Amortization expense was $633,807, $31,425 and $16,502 for the years ended March 31, 2022, 2021 and 2020, respectively.

Estimated future amortization expense is as follows as of March 31, 2022: 

Years ending March 31,	Amortization expense
2023	$	1,897,000
2024		1,897,000
2025		1,897,000
2026		1,897,000
2027		1,897,000
Thereafter		616,405
	$	10,101,405