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

9 Months Ended

Jun. 30, 2016

SCHEDULE OF INCOME TAXES [Table Text Block]

			Three months ended June 30,						Nine months ended June 30,
			2015			2016			2015			2016
	PRC income tax:
	Current	$	-		$	-		$	-		$	-
	Deferred		(32,851	)		(51	)		5,770,683			14,775
		$	(32,851	)	$	(51	)	$	5,770,683		$	14,775

SCHEDULE OF INCOME TAX RECONCILIATION [Table Text Block]

			Three months ended June 30,						Nine months ended June 30,
			2015			2016			2015			2016
	(Loss) profit before income taxes	$	(1,301,852	)	$	(2,668,692	)	$	21,436,051		$	(6,689,697	)
	United States federal corporate income tax rate		35%			35%			35%			35%
	Income tax (credit) expenses computed at United States statutory corporate income tax rate		(455,648	)		(934,042	)		7,502,618			(2,341,393	)
	Reconciling items:
	Valuation allowance on deferred tax assets		238,141			489,723			285,153			1,326,230
	Rate differential for PRC earnings		97,818			219,389			(2,194,794	)		529,619
	Non-deductible expenses		19,488			39,032			110,660			120,313
	Share based payments		67,350			131,860			67,350			375,047
	Others		-			53,987			(304	)		4,959
	Income tax (credit) expenses	$	(32,851	)	$	(51	)	$	5,770,683		$	14,775

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

			September 30,			June 30,
			2015			2016
	Deferred tax assets
	Trade accounts receivable	$	32,979		$	185,973
	Inventories		54,127			86,704
	Property, plant and equipment		5,976			301
	Valuation allowance		(49,907	)		(272,677	)
	Deferred tax assets, current portion	$	43,175		$	301
	Net operating loss carried forward		12,470,938			13,571,948
	Valuation allowance		(12,470,938	)		(13,571,948	)
	Deferred tax assets, non-current	$	-		$	-
	Deferred tax liabilities, non-current
	Property, plant and equipment	$	142,650		$	81,827

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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