Grant money

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Rajendra Singh Manwal (Querist)
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14 November 2012 Dear Sirs

We have received money as grant from government Department. so want to know that it,s our income or not ? witch accounting head should be it ? and service tax applicable on this or not ?

Thanks & Regards
Rajendra

CA VISHNU GAVKARE

CA VISHNU GAVKARE (Expert)
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15 November 2012 Service tax is not applicable

V K Bajaj

V K Bajaj (Expert)
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15 November 2012 In stead of WE you should have mentioned if the money was received by TRUST, SOCIETY or NGO and the purpose of such receipt.

Service Tax is never applicable on Receipt of amounts.

Rajendra Singh Manwal

Rajendra Singh Manwal (Querist)
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20 November 2012 Thanks Sirs

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