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Accounting entry

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(Querist)
10 June 2013 VAT Subsidy to be received from Rajasthan govt. for the period september 2012 to March 2013. we have to make entry in books ending on 31st March 2013. Please suggest the entry and accounts group.

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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 June 2013 Debit: VAT subsidy receivable
Cr: VAT subsidy ( off set a/c of your vat liability)
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Dheeraj Kaushik

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Dheeraj Kaushik (Querist)
19 June 2013 Thanks
Pls. tell account group of following-
VAT Subsidiy receivable and vat subsidy
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 June 2013 VAT subsidy receivable need to create under current asset group

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