MCA Notifies Companies (Ind AS) Amendment Rules, 2019

MCA Notifies Companies (Ind AS) Amendment Rules, 2019

MCA has notified the Companies Indian Accounting Standards (Ind AS) First and Second Amendment Rules, 2019, applicable w.e.f. 1 April, 2019, to amend the ‘Annexure B on Indian Accounting Standards (Ind AS)’ to the Companies (Ind AS) Rules, 2015 (the principal rules), by way of inserting/ substituting various paragraphs, annexures, etc. in different Ind AS. In short, Ind AS 1, 2, 7, 12, 16, 17, 19, 21, 23, 28, 32, 37, 38, 40, 41, 101, 103, 104, 107, 109, 111, etc. have been amended. Further, new ‘Ind AS 116 – Leases’ has been inserted/ notified.

MCA Notification dt. 30 March 2019: Companies (Ind AS) Second Amendment Rules, 2019

G.S.R. (E).— In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial Reporting Authority, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2015, namely:—

1. Short title and commencement.-(1) These rules may be called the Companies (Indian Accounting Standards) Second Amendment Rules, 2019. (2) They shall come into force on 1st day of April, 2019.

2. In the Companies (Indian Accounting Standards) Rules, 2015 (hereinafter referred to as the principal rules), in the “Annexure”, under the heading “B. Indian Accounting Standards (Ind AS)”,- (contd… please refer above attachment)

MCA Notification dt. 30 March 2019: Companies (Ind AS) First Amendment Rules, 2019

G.S.R. (E).— In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial Reporting Authority, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2015, namely:—

1. Short title and commencement.-(1) These rules may be called the Companies (Indian Accounting Standards) Amendment Rules, 2019. (2) They shall come into force on 1st day of April, 2019.

2. In the Companies (Indian Accounting Standards) Rules, 2015 (hereinafter referred to as the principal rules), in the “Annexure”, under the heading “B. Indian Accounting Standards (Ind AS)”, (contd… please refer above attachment)

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Ind AS 116 – Leases: A New Era of Accounting for Lease contracts by Lessees

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