ICAI Guide and FAQ on IndAS 20, Accounting for Government Grants and Disclosure

ICAI Guide and FAQ on Indian Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance

Educational Material on Indian Accounting Standards 20

The Ministry of Corporate Affairs (MCA) vide its notification dated 16th February, 2015 notified Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance which was later amended vide a notification dated 20th November, 2018. The amendment brought in significantly aligned Ind AS 20 with IAS 20

Ind AS 20 is to be applied in accounting for, and in the disclosure of, government grants and in the disclosure of other forms of government assistance.

This Educational Material on Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance contains guidance by way of Frequently Asked Questions (FAQs) and illustrations explaining the principles enunciated in the Standard. This publication will provide guidance to the stakeholders in accounting and to reporting entities in disclosure of various government grants and government assistance received

For the benefit of the users it also gives the Major differences between Ind AS 20 and AS 12 (Accounting for Government Grants) and IAS 20 ( Accounting for Government Grants and Disclosure of Government Assistance)  

Download ICAI Guide and FAQ on IndAS 20 Click Here >>

• Form 26 to replace Form 3CD of tax audit report by a CA from Tax Year 2026-27
• When no addition is made on the basis of reasons recorded, reopening is bad in law
• No separate compensation for loss of love and affection under MV Act – SC
• Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G
• Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court