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Frieght subsidy.
sir, company given me frieght subsidy and less in my purchases bill than I paid frieght from my bank. which entry I pass in my book. gst not applicable in frieght.
Replies (1)
As per AS 12 Freight subsidy received is revenue in nature and for the purpose of recognition of the said grant Income Approach should be followed and therefore directly credited to profit and loss account.
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