Prepayments, receivables and other assets
 12 Months Ended
Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepayments, receivables and other assets
13.
Prepayments, receivables and other assets

 

 

As of March 31,

 

 

2022

 

 

2023

 

 

 

RMB

 

 

RMB

 

 

(in millions)

 

Current:

 

 

 

 

 

 

Accounts receivable, net of allowance

 

 

32,813

 

 

 

32,134

 

Inventories

 

 

30,087

 

 

 

28,547

 

VAT receivables, net of allowance

 

 

23,779

 

 

 

17,497

 

Prepaid cost of revenue, sales and marketing and other expenses

 

 

17,902

 

 

 

16,794

 

Advances to/receivables from customers, merchants and others

 

 

11,205

 

 

 

14,499

 

Amounts due from related companies (i)

 

 

12,188

 

 

 

9,042

 

Interest receivables

 

 

2,449

 

 

 

5,471

 

Deferred direct selling costs and cost of revenue (ii)

 

 

3,915

 

 

 

4,771

 

Others

 

 

11,657

 

 

 

8,317

 

 

 

145,995

 

 

 

137,072

 

Non-current:

 

 

 

 

 

 

Operating lease right-of-use assets

 

 

78,053

 

 

 

77,428

 

Deferred tax assets (Note 7)

 

 

14,475

 

 

 

15,494

 

Film costs and prepayment for licensed copyrights and others

 

 

12,425

 

 

 

8,905

 

Prepayment for acquisition of property and equipment

 

 

3,592

 

 

 

3,976

 

Others

 

 

4,602

 

 

 

5,123

 

 

 

113,147

 

 

 

110,926

 

 

(i)
Amounts due from related companies primarily represent balances arising from transactions with Ant Group (Note 22), including dividend receivable from Ant Group amounting to RMB3,945 million and nil as of March 31, 2022 and 2023. The balances are unsecured, interest free and repayable within the next twelve months.
(ii)
The Company is obligated to pay certain costs upon the receipt of membership fees from merchants or other customers, which primarily consist of sales commissions, and certain costs associated with cloud services. The membership fees and cloud services revenue are initially deferred and recognized as revenue in the consolidated income statements in the period in which the services are rendered. As such, the related costs are also initially deferred and recognized in the consolidated income statements in the same period as the related service fees and revenue are recognized.