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EXCEL - IDEA: XBRL DOCUMENT - China Precision Steel, Inc.Financial_Report.xls
10-Q - QUARTERLY REPORT - China Precision Steel, Inc.form10q.htm
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EX-32 - EXHIBIT 32.1 - China Precision Steel, Inc.ex32-1.htm
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v2.4.0.6
Summary of Significant Accounting Policies (Details Narrative) (USD $)
0 Months Ended 3 Months Ended
Mar. 16, 2007
Sep. 30, 2012
Sep. 30, 2011
Jun. 30, 2012
Accounting Policies [Abstract]        
Credit period to customers, description  

The Company offers credit to its customers for periods of 60 days, 90 days, 120 days and 180 days.

   
Provision for all accounts receivable, description  

To reserve for potentially uncollectible accounts receivable, management has made a 50% provision for all accounts receivable that are over 180 days past due and full provision for all accounts receivable over 1 year past due.

   
Provision for all accounts receivable, percentage   50.00%    
Allowances for doubtful accounts, trade   $ 4,655,538   $ 3,231,613
Provision for accounts receivable bad debts   1,373,000     
Allowances of advances to suppliers   4,675,112   4,623,323
United States federal income tax rate   34.00%    
Percentage of unified enterprise income tax rate 25.00%      
Foreign invested entities tax holiday percentage of reduction 50.00%      
Percentage of Value Added Tax Rate On Good Sold   13.00%    
Percentage of value added tax rate on service provided   17.00%    
Retirement benefit costs contribution, percentage   37.00%    
Percentage of Employee contribution on retirement benefit costs   11.00%    
Percentage employer contribution on retirement benefit costs   26.00%    
Pension expense   64,741 69,338  
Capitalized interest   $ 0 $ 0