https://www.taxtmi.com/acts?id=20050 The standard requires that Government grants be recognised only when there is reasonable assurance of compliance with conditions and receipt, without postponing recognition beyond actual receipt. Grants related to depreciable assets reduce asset cost or written down value; grants tied to non-depreciable assets with obligations are recognised as income over the period matching related costs; compensation for past expenses is recognised when receivable; non-monetary concessional grants are accounted at acquisition cost. Refundable grants first offset deferred credit, with excess charged to profit and loss and asset-related refunds increasing asset cost for prospective depreciation. en-us Fri, 11 Sep 2015 18:47:08 +0530 Mon, 09 Jan 2017 13:06:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20050 The standard requires that Government grants be recognised only when there is reasonable assurance of compliance with conditions and receipt, without postponing recognition beyond actual receipt. Grants related to depreciable assets reduce asset cost or written down value; grants tied to non-depreciable assets with obligations are recognised as income over the period matching related costs; compensation for past expenses is recognised when receivable; non-monetary concessional grants are accounted at acquisition cost. Refundable grants first offset deferred credit, with excess charged to profit and loss and asset-related refunds increasing asset cost for prospective depreciation. Act-Rules Direct Taxes Fri, 11 Sep 2015 18:47:08 +0530 https://www.taxtmi.com/acts?id=20050