Goodwill

6 Months Ended

Sep. 30, 2022

Goodwill [Abstract]

GOODWILL

NOTE 8 – GOODWILL

Goodwill consisted of the following as of September 30, 2022 and March 31, 2022:

	As of September 30,		As of March 31,
	2022		2022
Shennong	$	5,622,535	$	6,288,219
Hekangyuan		3,243,419		3,627,427
Daji		-		168,555
Total	$	8,865,954	$	10,084,201

The changes in the carrying amount of goodwill for the years ended September 30, 2022 and March 31, 2022 were as follow:

	As of September 30,			As of March 31,
	2022			2022
Balance as of March 31	$	10,084,201		$	162,832
Acquisitions (Note 14)		-			20,237,015
Disposal		(157,650	)		-
Impairment		-			(10,309,745	)
Exchange gain and loss		(1,060,597	)		(5,901	)
Goodwill, net	$	8,865,954		$	10,084,201

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, and cooperation of developing the health commodities business stably, combining the production and supply, jointly build a perfect supply chain system with Hekangyuan.

As of September 30, 2022, the company concluded that there was no impairment of goodwill.