Companies (Indian Accounting Standards) Amendment Rules, 2023


The Ministry of Corporate Affairs (MCA) has in consultation with the National Financial Reporting Authority has issued the Companies (Indian Accounting Standards) Amendment Rules, 2022. These amendment rules were notified on 31st March, 2023.

The amendment rules have introduced a provision for ‘deferred tax related to assets and liabilities arising from a single transaction’. Entities shall apply this provision for annual reporting periods beginning on or after 1st April, 2023.

Furthermore, para B14 has also been inserted which provides ‘deferred tax related to leases and decommissioning, restoration and similar liabilities’.

These rules shall be applicable from the 1st April, 2023.

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