Govt. subsidy received for purchase of fixed asset
sanjay bilolikar (7 Points)
22 October 2018
how to treat in financial statements govt. subsidy received for purchase of fixed asset ?
4 Replies
Hitesh
(Student)
(3549 Points)
Replied 22 October 2018
In Ind AS treat it as deferred income in AS either treat as deferred income or reduce from cost of asset
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 22 October 2018
Yes... I agreed to Mr Hitesh.
@ Sanjay.,
You can reverse the Subsidy amount to the Fixed Asset which purchased the loan with subsidy...
or
Also account in Income Head...
@ Sanjay.,
You can reverse the Subsidy amount to the Fixed Asset which purchased the loan with subsidy...
or
Also account in Income Head...
Hitesh
(Student)
(3549 Points)
Replied 23 October 2018
Study from study material finish one AS and then do questions on it to get conceptual clarity
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