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TMI BlogTREATEMENT OF GOVT.GRANTX X X X Extracts X X X X X X X X Extracts X X X X ..... TREATEMENT OF GOVT.GRANT X X X X Extracts X X X X X X X X Extracts X X X X ..... Grant received for specific fixed assets(either depreciable or non depreciable) . if assets purchase in Year 2008 and grant is going to received after 3 year after fullfilling certain conditions, wha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t will be treatement of the same?. if grant is chargable as an income, kindly specify in which year and under which section it will be chargable. Reply By GOPALJI AGRAWAL: The Reply: It seems that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... you have queried for grant of capital nature. Such grant is recognised at the time of reasonable assurance that the enterprise would comply with the conditions of the grant and the benefits have accru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and it is reasonable certain that ultimate collection will be made. In case of capital nature of grant, either it is reduced from the cost of the concerned asset or treated as deffered revenue inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome in case of depreciable asset and credited to capital reserve in caseof non depreciable assets. For detailed study, you may read the AS-12 available at the following link: http://www.knowledgebib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le.com/forum/showthread.php/4590-12-Accounting-Standard-12-Accounting-for-Government-Grants-AS-12 X X X X Extracts X X X X X X X X Extracts X X X X
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