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Prepayments and Other Receivables
 9 Months Ended 12 Months Ended
Dec. 31, 2024
Mar. 31, 2024
Prepayments and Other Receivables [Abstract]    
PREPAYMENTS AND OTHER RECEIVABLES

4 - PREPAYMENTS AND OTHER RECEIVABLES

 

Prepayments and other current assets as of December 31, 2024 and March 31, 2024 consisted of the following:

 

   December 31,
2024		   March 31,
2024		 
Prepaid rent  $70,766   $179,792 
Prepayments to vendors   1,580,417    143,018 
Prepaid iCloud Server   
-
    1,747 
Prepaid insurance   293,294    237,207 
Prepaid income tax   86,705    
-
 
Prepayments to other service providers   275,510    26,896 
Total Prepayment and Other Receivables  $2,306,692   $588,660 

 

As of December 31, 2024 and March 31, 2024, the prepayments to vendors were $1.6 million and $0.1 million, respectively. The increase in prepayments to vendors was primarily due to the Company’s anticipation of growth in future sales and rental services. The Company plans to purchase more E-vehicles and related accessories from oversea vendors to support the expansion in retail and rental markets. These prepayments to vendors are expected to be settled by the end of March 2025.

4 - PREPAYMENTS AND OTHER RECEIVABLES

 

Prepayments and other current assets as of March 31, 2024 and 2023 consisted of the following:

 

   March 31,
2024		   March 31,
2023		 
Prepaid rent  $179,792   $26,332 
Prepayments to vendors   143,018    647,746 
Prepaid iCloud Server   1,747    
-
 
Prepayments to DMV   
-
    500 
Prepaid insurance   237,207    108,241 
Prepayments to other service providers   26,896    
-
 
Total Prepayment and Other Receivables  $588,660   $782,819