Govt grants
This query is : Resolved
Zohar Rangwala
(Querist)
16 May 2013
Where would govt grants/subsidies be included in cost sheet preparation
CMA Ramesh Krishnan
(Expert)
16 May 2013
What Grant you are receiving?. whether it capital nature or other?
Zohar Rangwala
(Querist)
17 May 2013
what if it is capital nature
and what if it is others
i want to know the treatment in the cost sheet preparation
Thanku
and what if it is others
i want to know the treatment in the cost sheet preparation
Thanku
CMA Ramesh Krishnan
(Expert)
17 May 2013
Capital nature grant means which received in aid of capital expenses. such as cash no question of come in to cost sheet
In case of grant in aid of revenue nature also no need to consider in cost sheet, cost sheet represents the cost of the product or service, so after arriving the cost sheet and cost, in place of considering revenue or sale the same grant can be considered
In case of grant in aid of revenue nature also no need to consider in cost sheet, cost sheet represents the cost of the product or service, so after arriving the cost sheet and cost, in place of considering revenue or sale the same grant can be considered
04 July 2013
Govt. is 2 types of grant one is Capital grant and the other is revenue grant.
Capital Grant received is to be deducted from the Capital expenditure incurred by you and then depreciation is to be charged.
In case of revenue grant it is to be credited to the P & L A/c or directly credit to the expenses against which grant is received.
Capital Grant received is to be deducted from the Capital expenditure incurred by you and then depreciation is to be charged.
In case of revenue grant it is to be credited to the P & L A/c or directly credit to the expenses against which grant is received.
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