{"id":86621,"date":"2016-11-19T15:30:10","date_gmt":"2016-11-19T10:00:10","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=86621"},"modified":"2016-11-26T17:20:31","modified_gmt":"2016-11-26T11:50:31","slug":"schedule-ii-to-the-companies-act-2013-amended","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/19\/schedule-ii-to-the-companies-act-2013-amended\/","title":{"rendered":"Schedule II to the Companies Act, 2013 amended"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>G.S.R. 1075(E).\u2014<\/strong>In exercise of the powers conferred by sub-section (1) of Section 467 of the\u00a0Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to amend Schedule II to the said Act, namely:-<br \/>\n1. In the Companies Act, 2013, in Schedule II, under Part \u2018A\u2019, in para 3, in sub-paragraph (ii), for\u00a0the brackets, letters and words starting with \u201c(ii) For intangible\u201c and ending with the words \u201cforce shall\u00a0apply\u201d, the following brackets, letters and words shall be substituted, namely:-<\/p>\n<p style=\"text-align: justify; padding-left: 30px;\">\u201c(ii) For intangible assets, the relevant Indian Accounting Standards (Ind AS) shall apply. Where\u00a0a company is not required to comply with the Indian Accounting Standards (Ind AS), it shall comply with relevant Accounting Standards under Companies (Accounting Standards) Rules,\u00a02006.\u201d<\/p>\n<p style=\"text-align: justify;\">2. This notification shall be applicable for accounting period commencing on or after 01st April,\u00a02016.<\/p>\n<p style=\"text-align: right;\">[F. No. 17\/60\/2012-CL-V]<\/p>\n<p style=\"text-align: justify;\"><strong>Note :<\/strong> Schedule II of the Companies Act, 2013 came into force with effect from 1st April, 2014 and was\u00a0amended (with effect from 1st April, 2014) vide notification number G.S.R. 237(E), dated the 31st\u00a0March, 2014 and G.S.R. 627(E), dated the 29th August, 2014.<\/p>\n<p style=\"text-align: right;\">MINISTRY OF CORPORATE AFFAIRS<\/p>\n","protected":false},"excerpt":{"rendered":"<p>G.S.R. 1075(E).\u2014In exercise of the powers conferred by sub-section (1) of Section 467 of the\u00a0Companies Act, 2013 (18 of 2013), the Central 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