If a capital asset is purchased from local dealer where in the bill the grant is provided,is it better to show as Reserve and amortise everyyear based on depreciation method and credit to p&l a/c or reduce from Fixed asset of such amount?for AS12,INDAS,ICDS
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Government incentive
Replies (2)
Reduce from Fixed Asset.
It must be reduced from Asset value, since the incentive is for that asset and not related to Income
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