unutilised incentives
This query is : Resolved
19 January 2009
we are manufacturing company,exporting to various countries agst advances licences.we could not utilised all import benifits which were shown in balance sheets to show it healthy.is this treated as income?pl.help me
CA.ViVeK M ACA
(Expert)
19 January 2009
The incentive cannot be part and parcel of revenue, because it is a specifeid purpose, only you can utilize to settel the export related duties.
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