Accounting of govt subsidy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2012
Govt has granted us subsidy against installation of solar which is installed but subsidy is not received yet. whether fixed asset to be reduced & subsidy to be shown as receivable in balance sheet for 31.03.2012. or accounted on receipt only?
30 March 2012
Dear Friend,The Government Grant with respect to any assets received has to be deducted from the value of the assets. Since government grant is not received then you have to show it as Receivables ( if certain). Thanks
30 December 2012
As and when receipt of grant attains certainty then same can be accounted as Govt grant either by reducing cost of asset or treating it as Deferred Govt. Grant
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