!AS 20.17 grants related to depreciable assets are usually recognised in profit or loss over the periods and in the proportions in which depreciation expense on those assets is recognised.
Dr - Bank
Cr - Govt grant a/c (asset)
Grant a/c can be released to P&L over the useful life of the asset (20% each year)
Dr -Gvt grant a/c
Cr - Other income