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Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities (Tables)

9 Months Ended

Jun. 30, 2014

SCHEDULE OF INCOME TAXES [Table Text Block]

		Three Months ended June 30,						Nine Months ended June 30,
		2013			2014			2013			2014
PRC income tax:
Current	$	32,777		$	-		$	277,599		$	16,474
Deferred		25,228			-			5,806,678			-
	$	58,005		$	-		$	6,084,277		$	16,474

SCHEDULE OF INCOME TAX RECONCILIATION [Table Text Block]

		Three Months ended June 30,						Nine Months ended June 30,
		2013			2014			2013			2014
(Loss) profit before income taxes-continuing operations	$	(10,212,676	)		$(9,829,430	)	$	(52,040,531	)	$	(26,351,675	)
United States federal corporate income tax rate		35%			35%			35%			35%
Income tax computed at United States statutory corporate income tax rate		(3,574,437	)		(3,440,301	)		(18,214,186	)		(9,223,086	)
Reconciling items:
Rate differential for PRC earnings		1,720,899			455,721			9,782,790			2,555,291
Valuation allowance on deferred tax assets		1,328,284			2,939,065			7,109,734			6,147,546
Non-deductible expenses/(non-taxable income)		554,557			40,430			7,087,660			506,060
Share based payment		27,771			5,085			104,205			30,663
Under-provision in prior year		931			-			214,074			-
Income tax expenses	$	58,005		$	-		$	6,084,277		$	16,474

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES [Table Text Block]

		September 30,2013			June 30, 2014
Deferred tax assets
Short-term
Trade accounts receivable	$	5,530,324		$	-
Inventories		5,365,802			-
Accrued expenses and other payables		865,002			-
Valuation allowance		(11,761,128	)		-
Short-term deferred tax assets		-			-
Long-term
Property, plant and equipment		17,826,415			-
Net operating loss carried forward		26,833,658			1,322,901
Valuation allowance		(44,660,073	)		(1,322,901	)
Long-term deferred tax assets		-			-
Total net deferred tax assets	$	-		$	-
Deferred tax liabilities:
Long-term - Property, plant and equipment	$	(779,814	)	$	-
Net deferred tax liabilities	$	(779,814	)	$	-

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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