MCA vide Notification No. G.S.R. 903(E) on Thursday, 20^th September, 2018 has issued Companies (Indian Accounting Standards) Second Amendment Rules, 2018 to amend the Companies (Indian Accounting Standards) Rules, 2015 wherein;

• in the “Annexure”, under the heading “B. Indian Accounting Standards (Ind AS)”-

1. in “Indian Accounting Standard (Ind AS) 20”-

• Paragraphs 23 to 28, 32-33 shall be substituted and after Paragraph 39, paragraphs 40 – 48A have been inserted.
• In Appendix 1,- paragraphs 1 and 2 shall be omitted and after paragraph 5, paragraphs 6 and 7 shall be inserted.

1. in “Indian Accounting Standard (Ind AS) 12”-

• Paragraph 33 shall be substituted and in Appendix 1, paragraph 7 shall be omitted.

1. in “Indian Accounting Standard (Ind AS) 16” –

• Paragraph 28 shall be substituted and in Appendix 1, paragraph 3 shall be omitted.

1. in “Indian Accounting Standard (Ind AS) 38”-

• Paragraph 44 and paragraph 77 shall be substituted and in Appendix 1, paragraph 1 shall be omitted.

The said Notification can be accessed through the following link:MCANotfNo_GSR.903(E)_Dt.20.09.2018_Cos (IAS) 2nd Amend Rules, 2018