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OTHER PAYABLES AND ACCRUED LIABILITIES
 12 Months Ended
Mar. 31, 2024
OTHER PAYABLES AND ACCRUED LIABILITIES  
OTHER PAYABLES AND ACCRUED LIABILITIES

NOTE 8 – OTHER PAYABLES AND ACCRUED LIABILITIES

 

Other payables and accrued liabilities consisted of the following as of March 31, 2024 and 2023:

 

 

 

As of

March 31,

 

 

As of

March 31,

 

 

 

2024

 

 

2023

 

Advances from customers

 

$73,953

 

 

$655,922

 

Employee benefits payable

 

 

7,277

 

 

 

9,900

 

Loan payable to the third party1

 

 

2,289,167

 

 

 

-

 

Deposit

 

 

50,000

 

 

 

-

 

Others

 

 

139,984

 

 

 

57,488

 

Total

 

$2,560,381

 

 

$723,310

 

 

The Company entered into three loan agreements with a third party to borrow aggregate loan of $2.25 million on November 9, 2023, January 18, 2024 and Mar 12, 2024, respectively. The loans all bear a fixed interest rate of 8% on the date of drawing per annum. The loan facility agreements are all unsecured.