Why does the financial/fiscal year start from 1st April?

The financial year runs from April to March. Companies present their yearly account for the same period. The government also presents its budget for April – March. Even a country’s citizens pay their income tax during April – March. Have you ever thought why the financial year starts from April – March? Why it can’t be modest like January to December?

Wouldn’t it be a lot more convenient if it concurred with the calendar year? Many people don’t resembling to write two years every time they define any particular financial year like 2011 – 12. It isn’t like any law in India only, but there are a lot of countries where the fiscal year is from April to March. Their governments run between April – March. Countries like Canada, United Kingdom, New Zealand, Japan and Hong Kong are also follow the same.
In the book of accounts there is not a single explanation of why the financial year is defined like that but we have noted some may possibly be explanations.

The Income Tax Act
The current income tax act was sanctioned in 1961, and it came into effect from April 1, 1962. This could be the major reason why our financial year begins on April 1.

Leisure Activity
The process of maintaining and preparing accounts and taxes is very time taking. During the year end in month of December there are festivals like Christmas and New Year. This is the time when people do a lot of shopping and spend time with family and friends. In most of the Christian regions have public holidays for a week or more. So it is an obvious thing that no one would love to spend their time doing accounting and documentation work.

Busy Businesses
The end of the calendar year has festivals when people do lots of shopping for themselves and for the dear ones. Due to high demand and supply volume it could be much difficult to maintain the stock lying in warehouses and also for solo owners it is not possible to spare time for accounting work. So, to not load everyone with extra work, the financial year ends in March, when the activity and inventory levels are normal.

British Inheritance
The British followed the April to March system for financial accounting. Also, under the old Julian calendar that Britain followed, April 1st loosely coincided with an Indian month that is considered the New Year in many Indian cultures. India was ruled by the British for a long time, and maybe that’s the reason we follow the same old trend of April – March financial year system,

Agricultural season
India is largely an agrarian economy and the citizen of a large populated country still depends on agriculture. Therefore the accounting system should be in according with the crop pattern. Major crop seasons starts in April. Years before India’s foremost part of taxes were from the agriculture. So the government prepared its annual budget keeping these crop patterns in mind.

While the exact reason remains unknown like the mystery of evolution of mankind, there is no denying the fact that most countries’ financial year differ from the calendar year.

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Pratik Patel, BDM
Shreeji Ceramic

Shreeji Ceramic presenting the new corporate logo

Shreeji Ceramic Group is pleased to announce that we have recently carried out a full re-branding workout in order to retrieve our group's image and focus our products more expressly towards our core characteristics and orientation.

The pointed sharp (>) sign with two colors in the new design is much larger and more visible. The hue of the top square has “bold red” to presents energetic and more eye-catching our group effort towards the forthcoming era with velocity. Bottom grey color shows the creativeness, trust and quality on products which our group carries with its growth pace. Our group's new corporate design is a visual aspect of its optimism and ambitions for the future day. Created by Pratik Patel, the new logo mark the greater-than (>) sign and brand products are set to create a more modern-day company picture and corporate form in a consistent manner, in order to continue communication with occupational group in a wide range of wall and floor tile based industries.

The new branding unites the characteristics and administration of our all brands image that have been developed with customers over twelve years. The new group logo is one of our most valuable assets and would be used on all printed stationary items, across all social media and products till the late 2012. The new logo contains the sign ‘>’ sound as a main component of the logo, showing efforts and innovations greater than yesterday. The logo valuation is a easy and clean design, whilst still clearly expressing the core characteristics of our company:


1. Occupational group unity
2. Specialised
3. Forward-looking
4. Creative

The new logo will find itself in the right side of the packages and the new look will also be phased in at Shreeji Ceramic dealers as the showroom exterior design of their constitutions. If you are intending to use Shreeji Ceramic products or are intending to produce content in any media that includes notice of, or reference to Shreeji Ceramic, then please contact us to request the brand guidelines package and associated information on the use of the Shreeji Ceramic name and brand identity.

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Pratik Patel, BDM
Shreeji Ceramic

Have a joyous HOLI on the floor of Shreeji Artica. Add some colors to your floor.

The 'Lord Supreme', almighty Lord SHREEJI celebrated HOLI festival more then others with a lot of playfulness and given a colorful name 'Rangotsav'.

Shreeji Ceramic wish you all have a joyous and safe HOLI festival of colors.

:: GREEN COMPANY GREEN EARTH ::

Research and Innovation for Indian tile industry :Shreeji Ceramic Newsletter

Making and selling tiles has never ending era. Indian Tile manufacturers accept that tile usage will continue to enlarge worldwide, although at a slower rate over the next few months. Global tile production has more than doubled every decade. Indian tile manufacturers believe that market will go up over the few years, but few consider a more middle-of-the-road 50 to 75% growth more to be expected. I personally believe there is the need of supplementary promotional advertising for the each tile industry. When asked to Haribhai, head of Shreeji Ceramic, he believes the consumption per individual will not get higher completely without an improved height of industry endorsement, government support, united direction and a nationwide ceramic association that is truly representative of the whole Indian tile industry.

Tile is a fashion industry and is influenced by the age group in which the designers and customers manage to balance the cost and quality with latest novelty items. New products are often determined by advance in innovative technology. The perfection of Multi-charged feeding has revolutionised the beautifying over polished vitrified tiles with infinite shades and color throughout the tile, but does the customer think the finished product is something that they are willing to pay extra? This is a problem facing many tile manufacturers in India. As the tile market grows over the next 5 years, we look forward to see more amounts of change and development, unlike the revolution that came with the beginning of the roller kiln 20 years ago or the digital printing technology which add high revolutionary depth of print and reduce wastage of color and green biscuits due to instantaneous quality. It doesn’t mean that there won’t be advances in products and manufacturing cost.

Latest study by Central Glass and Ceramics Research Institute said that they have invented a new body from Kutch district of Gujarat for Polished Vitrified Tiles which may reduces the production cost by removing Soda and Potash material to 30-40% and still maintain the quality of a tile. Gujarat Granito association has confirmed to implement the new changes in manufacturing process of polished vitrified tile during its last meet at Morbi. Gujarat tile manufacturers are delighted to get the benefit over high cost of Soda and Potash purchase from Rajasthan state. While a standard manufacturing process for tiles has been developed over recent years, utilisation was still needed in terms of labour costs and environmental impact. I believe it would be a fatal mistake to ignore research & development here, due to difficult economy, as equipment manufacturers must continue to offer the market increasingly innovative technological proposals.

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Pratik Patel, BDM
Shreeji Ceramic