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<h1>Indian Accounting Standards Updated: Key Amendments to Ind AS 101, 103, 109, 111, 12, 19, 23, 28 Effective April 2019.</h1> The Companies (Indian Accounting Standards) Second Amendment Rules, 2019, effective from April 1, 2019, introduce several updates to the Indian Accounting Standards (Ind AS). Key amendments include changes to Ind AS 101, 103, 109, 111, 12, 19, 23, and 28, addressing aspects such as uncertainty over income tax treatments, business combinations, prepayment features with negative compensation, and long-term interests in associates and joint ventures. These amendments aim to align with international standards and improve clarity in financial reporting. The changes are applicable retrospectively, with specific provisions for transition and effective dates.