MCA issues amendments to Ind AS effective 1 April 2018 | KPMG | IN

MCA issues amendments to Ind AS effective 1 April 2018

MCA issues amendments to Ind AS effective 1 April 2018

The Ministry of Corporate Affairs (MCA), on 28 March 2018, issued certain amendments to Ind AS.

1000

Also on KPMG.com

The Ministry of Corporate Affairs (MCA), on 28 March 2018, issued certain amendments to Ind AS. These amendments maintain convergence with IFRS by incorporating amendments issued by International Accounting Standards Board (IASB) into Ind AS.

The IASB along with the IFRS Interpretations Committee, issues amendments to IFRS either as part of its annual improvement process or as specific amendments to IFRS, to resolve inconsistencies in the standards or to provide further clarifications.

The amendments relate to the following standards:

  • Ind AS 40, Investment Property
  • Ind AS 21, The Effects of Changes in Foreign Exchange Rates
  • Ind AS 12, Income Taxes
  • Ind AS 28, Investments in Associates and Joint Ventures
  • Ind AS 112, Disclosure of Interests in Other Entities

This issue of IFRS Notes provides an overview of the amendments issued by MCA.

To access the text of the MCA notification, please click here.
 

© 2018 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Connect with us

 

Request for proposal

 

Submit