Change in accounting policy must be retrospective unless impracticable, with prior period equity and tax effects adjusted appropriately. A change in accounting policy is permitted only if required by an Ind AS or if it yields more reliable, relevant information; such changes affecting recognition, measurement or presentation must be applied retrospectively unless specific transitional provisions apply or retrospective application is impracticable. When applied retrospectively, entities adjust prior period comparatives and opening equity for the earliest period presented. If period specific or cumulative effects are impracticable to determine, application is limited to the earliest practicable period with corresponding equity adjustments or prospective application from the earliest practicable date. Tax effects of retrospective changes are recognised in the relevant prior periods or opening reserves.