MEIS SEIS REVENUE RECOGNITION

[ravi parihar]

Dear Sir,

My question is related to revenue recognition of MEIS SEIS taxation from income tax point of view and accounting standard.

Revenue will be recognize at the time of credit of scrip or sale of scrip ?

ICDS silent about this and AS 9 says export incentive recognise only when there is certainity .

Kindly reply.

Thanks in advance.

AI Summary

Clarification Sought on Revenue Recognition Timing for MEIS and SEIS Taxation Under AS 9 and ICDS A user inquired about the revenue recognition of MEIS and SEIS taxation concerning income tax and accounting standards. The question focused on whether revenue should be recognized at the time of the scrip's credit or sale. The user noted that ICDS does not address this issue, while AS 9 states that export incentives should be recognized only when there is certainty. The user requested guidance on this matter.