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Government notifies new accounting standard, effective April 1

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"The notification is a welcome step towards aligning the new standard to the global adoption of IFRS 15. Companies in all spheres, manufacturing, services, technology, infrastructure, shall be impacted as there are quite significant new concepts on the recognition, measurement of revenue and disclosure of additional information,"

Ashish Gupta
Director, Grant Thornton Advisory Private Limited

This article appeared in Economic Times on 29th March, 2018.