19 October 2013
Is it allowable to treat Grant received in the nature of Promoter's contribution(promoter being government) as a borrowing in the books of accounts in order to classify the entity as a Level 1 enterprise ?
20 October 2013
As per AS-12, The Grant received from Government as capital(Promoter contribution) need to show under shareholders funds, not to treat as Borrowing, since it is not returnable
CAclubindia
