As 12
This query is : Resolved
16 April 2014
Sub: how to treat government grant received for depreciable asset
A machinery capitalized @ 1,20,000/- on 1 Jan 2012. and im following SLM method @ 16.70%....
In sep 2013 i have recd. grant of 50,000/- now how i have to treat in my books. what is the effect in my p&l a/c.
Please reply
Thanks
A machinery capitalized @ 1,20,000/- on 1 Jan 2012. and im following SLM method @ 16.70%....
In sep 2013 i have recd. grant of 50,000/- now how i have to treat in my books. what is the effect in my p&l a/c.
Please reply
Thanks
16 April 2014
you need to deduct it from cast of the asset as per AS 12.
Message likes :
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16 April 2014
To i need to re calculate the depreciation and should give credit to p&l a/c ...?
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