MCA and ICAI amendments relevant to Ind AS and Schedule III, tracked as they're notified — in plain language, with a link back to the primary source.
Clarifies how to classify a liability as current or non-current when loan covenants are attached (amendment to Ind AS 1), and introduces new disclosure requirements for supplier / supply-chain finance arrangements (Ind AS 7 and Ind AS 107). Notified by MCA on 19 August 2025, with the amended provisions taking effect for reporting periods beginning on or after 12 August 2026.
Aligns India's tax-accounting rules with the OECD's Pillar Two global minimum tax framework. Introduces a temporary exception from recognising and disclosing deferred tax assets/liabilities tied to Pillar Two top-up taxes, plus new disclosures for affected groups; MCA has indicated small and medium-sized companies fall outside the disclosure requirement. Secondary reporting on this amendment has referred to both Ind AS 12 and AS 22 — confirm which framework applies to your entity against the official notification.
ICAI's Accounting Standards Board has floated a formal exposure draft proposing Pillar Two-related amendments to Ind AS 12, open for public comment on its exposure draft portal. Not yet notified by MCA — a preview of where the final rule is headed, not something to apply yet.
Join the waitlist and we'll flag Ind AS and Schedule III changes relevant to your modules as they're notified.