General Circular 04/2016

Clarification with regard to companies (Accounting Standards) Amendment Rules, 2016

The Ministry of Corporate Affairs (MCA) has vide its circular no. 4/2016 dated 27th April, 2016 issued a clarification that the Accounting Standards, as amended through the Companies (Accounting Standards) Amendment Rules, 2016 vide G.S.R.364(E) dated 30th March, 2016 should be used for preparation of accounts for accounting periods commencing on or after the date of the said notification.