Revised schedule vi
This query is : Open
26 October 2013
Dear Sir/Mam,
Where 'Deferred Government Grants' and 'Unclaimed MAT Credit Entitlement' shall be disclosed in the Balance Sheet as per revised Schedule VI?
Where 'Deferred Government Grants' and 'Unclaimed MAT Credit Entitlement' shall be disclosed in the Balance Sheet as per revised Schedule VI?
26 October 2013
Unclaimed MAT Credit entitlement:
It should be classified as Current Asset as you would consider this figure at the time of computation of liability on 31.03.2014
Deferred government grants:-
It should be classified as Current Liabilities if you expect to settle this upto 31.03.2015 otherwise classify it as Non-Current Liabilities.
It should be classified as Current Asset as you would consider this figure at the time of computation of liability on 31.03.2014
Deferred government grants:-
It should be classified as Current Liabilities if you expect to settle this upto 31.03.2015 otherwise classify it as Non-Current Liabilities.
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26 October 2013
Deferred govt grants in no way satisfy the criteria of being a liabilty to be credited under current liabilities.
Infact it is income which is just deferred over the years hence it shown under reserves and not current or non current liability.
Infact it is income which is just deferred over the years hence it shown under reserves and not current or non current liability.
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28 October 2013
Please clarify the presentation of 'Deferred Govt Grants'?
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