https://www.taxtmi.com/acts?id=20054 IGAS-2 requires grants-in-aid-cash or in-kind-be recognised by grantors on disbursement and by grantees on receipt; in-kind grants are recognised at receipt where valuation exists. Grants disbursed are classified as revenue expenditure in the grantor's accounts and grants received as revenue receipts in the grantee's accounts, including pass-through grants and funds used by grantees to create assets, except where capital treatment is specifically authorised. The Standard prescribes valuation rules for in-kind grants and mandates detailed disclosures and sub-classification to distinguish operating from capital-related grants. en-us Sat, 12 Sep 2015 12:41:57 +0530 Tue, 11 Jun 2024 12:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20054 IGAS-2 requires grants-in-aid-cash or in-kind-be recognised by grantors on disbursement and by grantees on receipt; in-kind grants are recognised at receipt where valuation exists. Grants disbursed are classified as revenue expenditure in the grantor's accounts and grants received as revenue receipts in the grantee's accounts, including pass-through grants and funds used by grantees to create assets, except where capital treatment is specifically authorised. The Standard prescribes valuation rules for in-kind grants and mandates detailed disclosures and sub-classification to distinguish operating from capital-related grants. Act-Rules Companies Law Sat, 12 Sep 2015 12:41:57 +0530 https://www.taxtmi.com/acts?id=20054