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This notification amends the Companies (Indian Accounting Standards) Rules, 2015 by inserting provisions related to accounting for sale and leaseback transactions under Ind AS 116 (Leases). The key amendments are: inserting paragraph 102A to provide guidance on subsequent measurement of right-of-use asset and lease liability for seller-lessee; modifying Appendix C for transition requirements; and adding a new Appendix D with illustrative examples on sale and leaseback transactions. The amendments aim to align Indian accounting standards with international practices and provide clarity on accounting treatment of sale and leaseback arrangements, ensuring consistent application by companies.
This notification amends the Companies (Indian Accounting Standards) Rules, 2015 by inserting provisions related to accounting for sale and leaseback transactions under Ind AS 116 (Leases). The key amendments are: inserting paragraph 102A to provide guidance on subsequent measurement of right-of-use asset and lease liability for seller-lessee; modifying Appendix C for transition requirements; and adding a new Appendix D with illustrative examples on sale and leaseback transactions. The amendments aim to align Indian accounting standards with international practices and provide clarity on accounting treatment of sale and leaseback arrangements, ensuring consistent application by companies.
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