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The rules amend the Companies (Indian Accounting Standards)...
Companies (Indian Accounting Standards) Rules, 2015 amended: updated Ind ASs on leases, transitional provisions, liabilities, supplier finance, Pillar Two tax
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The rules amend the Companies (Indian Accounting Standards) Rules, 2015 to update numerous Ind ASs: revise transitional provisions for first-time adopters and lease accounting; add supplier finance disclosure and related presentation amendments; clarify classification of liabilities as current or non-current, including treatment of covenants, settlement, and related disclosure and transitional dates; adjust references and numbering across Ind AS 1, 7, 8, 9, 10, 12, 28, 32, 101, 107, 108, 109, 115 and 116; and introduce an exception and disclosure requirements for Pillar Two income taxes. Application and effective dates vary by amendment, primarily from 1 April 2025 and 1 April 2026.
The rules amend the Companies (Indian Accounting Standards) Rules, 2015 to update numerous Ind ASs: revise transitional provisions for first-time adopters and lease accounting; add supplier finance disclosure and related presentation amendments; clarify classification of liabilities as current or non-current, including treatment of covenants, settlement, and related disclosure and transitional dates; adjust references and numbering across Ind AS 1, 7, 8, 9, 10, 12, 28, 32, 101, 107, 108, 109, 115 and 116; and introduce an exception and disclosure requirements for Pillar Two income taxes. Application and effective dates vary by amendment, primarily from 1 April 2025 and 1 April 2026.
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