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Jul 31, 2015
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Ind AS roadmap to stay: official
The Government has ruled out any postponement of the roadmap announced for adoption of Ind As — the new generation accounting standards — in India.Amardeep Singh Bhatia, Joint Secretary, Corporate Affairs Ministry, said: “We are not looking at any postponement…. Nothing in our agenda…that (postponement) is not in our plate.” He was speaking at a national conference on financial reporting, organised by Confederation of Indian Industry (CII).
Corporate Affairs Ministry had in February this year notified a final roadmap for adoption of Ind AS in India. According to the roadmap, all companies, with networth of Rs. 500 crore or more (whether listed or unlisted), should move to Ind AS for financial year beginning on or after April 1, 2016.
Source -
http://www.thehindubusinessline.com
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