Companies Act

MCA Notified Indian Accounting Standards Ind AS 11 Construction Contracts and Ind AS 18 Revenue. Download Full Notification

On 16-02-2015, MCA had notified Companies (Indian Accounting Standards) Rules, 2015.

Today, (30/03/2016) Ministry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standards) (Amendment) Rule, 2016.

The amendment has made the following changes:

Indian Accounting Standard (Ind AS) 11 – Construction Contracts notified. The  standard shall be applied in accounting for construction contracts in the financial statements of contractors.

Indian Accounting Standard (Ind AS) 18 – Revenue notified. The  standard shall be applied in accounting for revenue arising from following transactions and events:
(a) sale of goods;
(b) the rendering of services, and
(e) the use by others of entity assets yielding interest and royalties

[F No. 01/01/2009-CL-V(Part)]

Download full notification

Share

Recent Posts

  • Insurance

No separate compensation for loss of love and affection under MV Act – SC

Under MV Act separate compensation can not be granted under the head “loss of love and affection” – Supreme Court…

16 hours ago
  • Income Tax

Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G

Trust accredited by National Institute of Open Schooling eligible for registration u/s.12AB and u/s 80G of the Act. In a…

20 hours ago
  • Income Tax

Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court

Delay in furnishing Form 10B – Period between 15.03.2020 till 20.08.2022 to be excluded as per decision of Hon'ble Supreme…

3 days ago
  • Income Tax

Section 271AAB does not grant any immunity from penalty in terms of section 273B

Section 271AAB does not grant any immunity from penalty even if the assessee was able to show some reasonable cause…

3 days ago
  • Empanelment

Engagement of ‘Young Professional’ in the office of the PCCT Bihar & Jharkhand

Engagement of 'Young Professional' in the office of the PCCT Bihar & Jharkhand Engagement of 'Young Professional' in the office…

5 days ago
  • Empanelment

CGPDTM invites applications for hiring contractual manpower and Young Professionals

CGPDTM invites applications for hiring contractual manpower and Young Professionals The Controller General Patents, Designs & Trade Marks has invited…

5 days ago