Business Combination (Tables)

12 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Schedule of discounted cash flow method after considering a discount

Net liabilities acquired	$	(11,544	)
Goodwill		162,832
Non-controlling interests		(76,244	)
Total		75,044
Purchase price – cash consideration	$	75,044

Schedule of unaudited pro forma combined statements of operation presents

2021 Summary Statement of Operations	HAPPINESS BIOTECH GROUP LIMITED		DAJI			Combined
Revenue	$	71,433,130	$	175,425		$	71,608,555
Net Income (Loss)	$	683,926	$	(2,333	)	$	681,593
Net Income (Loss) per ordinary share - basic and diluted	$	0.03				$	0.03
Weighted average ordinary shares - basic and diluted		26,160,270					26,160,270

2020 Summary Statement of Operations	HAPPINESS BIOTECH GROUP LIMITED		DAJI			Combined
Revenue	$	65,061,953	$	7,429		$	65,069,382
Net Income (Loss)	$	12,688,035	$	(21	)	$	12,688,014
Net Income (Loss) per ordinary share - basic and diluted	$	0.53				$	0.53
Weighted average ordinary shares - basic and diluted		23,843,836					23,843,836

Schedule of discounted cash flow method after considering a discount

Fair value of total consideration transferred:
Equity instrument (4.2 million Class A Ordinary Shares issued)	$	3,736,320
Cash consideration		7,492,391
Subtotal	$	11,228,711
Recognized amounts of identifiable assets acquired and liability assumed:
Cash	$	59,091
Current assets other than cash		13,591,825
Intangible asset – customer relationships		4,214,470
Current liabilities		(13,650,246	)
Deferred tax liabilities		(1,053,617	)
Total identifiable net assets	$	3,161,523
Fair value of non-controlling interests*		4,010,254
Goodwill*	$	12,077,442

* The goodwill generated from the expected synergies from the output capacity of the transaction and service scenario of the multi-industry, full-link and full-closed-loop of Shennong.

Fair value of total consideration transferred:
Equity instrument (10 million Class A Ordinary Shares issued)	$	3,650,000
Cash consideration		8,000,000
Subtotal	$	11,650,000
Recognized amounts of identifiable assets acquired and liability assumed:
Cash	$	1,164
Current assets other than cash		1,882,139
Property, plant and equipment, net		187
Intangible asset – customer relationships		4,582,227
Current liabilities		(1,829,733	)
Deferred tax liabilities		(1,145,557	)
Total identifiable net assets	$	3,490,427
Fair value of non-controlling interests		-
Goodwill*	$	8,159,573