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Other Assets, Net
 12 Months Ended
Mar. 31, 2024
Other Assets, Net [Abstarct]  
Other Assets, Net

8. Other Assets, Net

 

As of March 31, 2024, and 2023, other assets consisted of the following: 

 

   As of March 31, 
   2024   2023 
Deposits  $103,517   $60,988 
Prepayments   6,309,779    40,204 
    6,413,296    101,192 
Less: allowance for expected credit losses   (990)   - 
Other assets, net   6,412,306    101,192 
Less: amounts classified as non-current assets   (3,959,651)   (29,299)
Amounts classified as current assets  $2,452,655   $71,893 

 

The movement of allowance for expected credit losses is as follow:

 

   As of March 31, 
   2024   2023 
Balance at April 1  $
-
   $
-
 
Provision for expected credit losses   990    
-
 
Balance at March 31  $990   $
-
 

 

The Group adopted ASU 2016-13 from April 1, 2023 using modified-retrospective transition approach with a cumulative-effect adjustment to shareholders’ equity amounting to nil being recognized as of April 1, 2023.