Companies (Indian Accounting Standards) Second Amendment Rules, 2024

The Central Government on 9th September, 2024 has issued the Companies (Indian Accounting Standards) Second Amendment Rules, 2024. The rules provides accounting standards for sale and lease by companies.

A seller-lessee shall apply Lease Liability in a Sale and Leaseback retrospectively in accordance with Ind AS 8 to sale and leaseback transactions entered into after the date of initial application.

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