Amended Accounting Standards 2016 shall apply to accounting periods commencing on or after the date of notification-MCA Circular

General Circular No. 04/2016
F. No.01/01/2009-CL-V
Government of India
Ministry of Corporate Affairs

5th Floor, A Wing, Shastri Bhavan,
Dr R.P. Road, New Delhi

Dated: 27th  April, 2016

To
All Regional Directors,
All Registrars of Companies,
All Stakeholders.

Subject: Clarification with regard to Companies (Accounting Standards) Amendment Rules 2016

Sir,

Stakeholders have sought clarifications with regard to the accountlng period for which the accounts would need to be prepared using the Accounting Standards, as amended tirough the Companies (Accounting Standards) Amendment Rules, 2016. The matter has been examined in the Ministry and it is hereby clarifled that the amended Accounting Standards should be used for preparation of accounts for accounting periods commencing on or after the date of notification.

This issues with the approval of the competent authority.

Yours faithfully,

(Sudhir Kapoor)
Deputy Director