The Companies (IndianAccounting Standards) Second Amendment Rules, 2019

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 30th March, 2019

G.S.R………. (E).— In exercise of the powers conferred by section 133 read with section 469 of the
Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the National Financial
Reporting Authority, hereby makes the following rules further to amend the Companies (Indian
Accounting Standards) Rules, 2015, namely:—
1. Short title and commencement.-(1) These rules may be called the Companies (Indian
Accounting Standards) Second Amendment Rules, 2019.
(2) They shall come into force on 1st day of April, 2019.
2. In the Companies (Indian Accounting Standards) Rules, 2015 (hereinafter referred to as the
principal rules), in the “Annexure”, under the heading “B. Indian Accounting Standards (Ind AS)”,-
I. in “Indian Accounting Standard (Ind AS) 101”, –
(i) after paragraph 39AC, the following paragraphs shall be inserted, namely:-
“39AD *
39AE *
39AF Appendix C, Uncertainty over Income Tax Treatments, to Ind AS 12 added paragraph E8.
An entity shall apply that amendment when it applies Appendix C to Ind AS 12.”;
(ii)In Appendix E, the following paragraphs shall be inserted, namely:-
“E1 *
E2 *
E3 *
E4 *
E5 *
E6 *
E7 *
Uncertainty over income tax treatments
E8 A first-time adopter whose date of transition to Ind ASs is before the date of notification of
this Appendix may elect not to reflect the application of the Appendix C, Uncertainty over
Income Tax Treatments, to Ind AS 12, Income Taxes, in comparative information in its first

* Refer Appendix 1
2
Ind AS financial statements. An entity that makes that election shall recognise the
cumulative effect of applying Appendix C to Ind AS 12 as an adjustment to the opening
balance of retained earnings (or other component of equity, as appropriate) at the beginning
of its first Ind AS reporting period.”;
(iii) In Appendix 1,
(a) for paragraph 9, the following paragraph shall be substituted, namely:-
“9. Paragraphs E1-E2 of Appendix E of IFRS 1 provides ‘Short-term exemptions from
IFRSs’, however Ind AS 101 does not provide the aforesaid short-term exemptions. In
order to maintain consistency with paragraph numbers of IFRS 1, the same have been
retained in Ind AS 101.”;
(b) in paragraph 12, after item (vii), the following shall be inserted, namely:-
(viii) Paragraphs E3-E7.”;
(c) for paragraph 14, the following paragraph shall be substituted, namely:-
“14. Paragraphs 34 to 39W and 39Y to 39AB and 39AD of IFRS 1 have not been
included in Ind AS 101 as these paragraphs relate to effective date and are not relevant
in Indian context. Paragraph 39AE has not been included since it refers to amendments
due to issuance of IFRS 17, Insurance Contracts, for which corresponding Ind AS is
under formulation. However, in order to maintain consistency with paragraph numbers
of IFRS 1, these paragraph numbers have been retained in Ind AS 101.”.
II. in “Indian Accounting Standard (Ind AS) 103”, –
(i) after paragraph 42, the following paragraph shall be inserted, namely:-
“42A When a party to a joint arrangement (as defined in Ind AS 111, Joint Arrangements)
obtains control of a business that is a joint operation (as defined in Ind AS 111), and had
rights to the assets and obligations for the liabilities relating to that joint operation
immediately before the acquisition date, the transaction is a business combination
achieved in stages. The acquirer shall therefore apply the requirements for a business
combination achieved in stages, including remeasuring its previously held interest in the
joint operation in the manner described in paragraph 42. In doing so, the acquirer shall
remeasure its entire previously held interes