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      In August 2025, the Ministry of Corporate Affairs (MCA) notified the Companies (Indian Accounting Standards) Second Amendment Rules, 2025.  These amendments relate to:

      • Classification of liabilities as current or non-current and non-current liabilities with Covenants (Ind AS 1, Presentation of Financial Statements)
      • Disclosure of supplier finance arrangements (Ind AS 7, Statement of Cash Flows and Ind AS 107, Financial Instruments: Disclosures)
      • International Tax Reform – Pillar Two Model Rules (Ind AS 12, Income Taxes).

      These amendments are aimed at aligning Indian Accounting Standards (Ind AS) with International Financial Reporting Standards (IFRS).  Most of the amendments will be effective from 1 April 2025.  This issue of the First Notes aims to provide an overview of these amendments.

      To access the text of the amendments (the Companies (Indian Accounting Standards) Second Amendment Rules, 2025), please click here                                                                                                                                                                          

      First Notes – Recent amendments to Ind AS

      First Notes – Recent amendments to Ind AS

      This issue of the First Notes aims to provide an overview of the Ind AS amendments

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