Version 21 - March 2026 (template release)
Template release pack
This release focuses on the legislative content changes, features and correction updates for the period ending
March 2026
. The template is available on platform 6.28.9259 / 6.29.9459 / 6.30.9574 / 6.31.9627 / 6.32.9713 / 6.33.9810 / 6.34.9900.Release notes
- Period end: March 2026
- Update type: Major (Legislative, Features and Corrections)
Overview
This India AS Corporate Template Content Version 21.0 is a Major release that includes important legislative updates and IFRS-alignment changes, along with features.
Key legislative updates in this version are effective for annual periods beginning on or after 1 April 2025. These updates include:
- Amendments to Ind AS 1- The amendment provides clarification on classification of liabilities as current or non-current where the right to defer settlement depends on compliance with debt covenants in the next 12 months and requires additional disclosures in such cases. The amendment clarifies what is meant by a right to defer settlement, that this right must exist at the end of the reporting period, and that classification is unaffected by the likelihood of exercising the deferral right. It also clarifies the treatment of convertible liabilities and related disclosure requirements.Effective date: Annual reporting periods beginning on or after 1 April 2025 (retrospective application in accordance with Ind AS 8). In addition, if a covenant breach is rectified after the reporting date, it will be treated as a non-adjusting event; this requirement applies for annual reporting periods beginning on or after 1 April 2026.
- Advisory w.r.t. form MGT-7 certification under MCA V3 portal- Pursuant to the Companies (Management and Administration) Amendment Rules, 2025, certification in Form MGT-8 has been integrated with the E-form MGT-7 on V3 portal thereby capturing the certification under Form MGT-8 in a static field.It is advised to continue to certify the compliances under Form MGT-8 on the letter head of a Peer reviewed Practice Unit, generate UDIN in accordance with guidelines issued by the Institute and attach the same as an optional attachment to Form MGT-7, till the issuance of clarification/Rules from the MCA in this context.The Institute has already submitted a representation to the MCA on 6 June 2025 for modification in the layout of Form MGT-8 by reviewing Form MGT-7.
- Companies (Indian Accounting Standards) Second Amendment Rules, 2025- The MCA has issued the Companies (Indian Accounting Standards) Second Amendment Rules, 2025, introducing key amendments along with consequential changes in other Ind AS.
- Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961 (Revised 2025)-The Direct Taxes Committee of ICAI has issued the revised 2025 edition of Guidance note on Tax Audit under Section 44AB of the Income-tax Act, 1961. This publication covers:
- The amendments introduced by the Finance (No. 2) Act 2024 and Finance Act 2025 to the Income-tax Act, 1961; and
- The additional reporting requirements in Form No. 3CD introduced vide Notification No. 27/2024 dated 5 March 2024 and Notification No. 23/2025 dated 28 March 2025.
- Companies CSR Policy Amendment Rules 2025- The MCA has notified Companies CSR Policy Amendment Rules 2025, through which it has made amendments to e-Form No. CSR-1 (Registration of Entities for undertaking CSR Activities). These rules shall come into force with effect from 14 July 2025.
- Amendments to Ind AS 7 and Ind AS 107 - Disclosures: Supplier Finance ArrangementsThe amendments specify additional disclosure requirements intended to help users understand the effects of supplier finance arrangements on an entity's liabilities, cash flows and exposure to liquidity risk.Effective date: Annual reporting periods beginning on or after 1 April 2025. Comparative information is not required for periods before 1 April 2025. Interim period information for periods ending on or before 31 March 2026 is not required.
- Amendments to Ind AS 12 - International tax reform—Pillar Two model rules- The amendments introduce a mandatory exception from recognizing and disclosing deferred tax assets and liabilities related to Pillar Two income taxes.Effective date: The mandatory temporary exception (use of which must be disclosed) applies immediately and retrospectively in accordance with Ind AS 8. The remaining disclosure requirements apply for annual reporting periods beginning on or after 1 April 2025, but not for any interim periods ending on or before 31 March 2026.
- Lack of exchangeability - Amendments to Ind AS 21- The MCA notified amendments to Ind AS 21 to specify how an entity should assess whether a currency is exchangeable and how to determine a spot exchange rate when exchangeability is lacking. The amendments also require disclosures to help users understand the impacts on an entity's financial performance, financial position and cash flows.Effective date: Annual reporting periods beginning on or after 1 April 2025. Comparative information cannot be restated.The amendments are not expected to have a material impact on the Group's financial statements.
- Other amendments- Other amendments have been made to various standards to update/correct references, align references with IFRS and Ind AS, and bring further clarity in the standards:
- In Ind AS 10, Events After the Reporting Period, certain terms have been updated to align with changes in Ind AS 1.
- Incorrect reference to IFRS 108 (instead of IFRS 8 Operating Segments) is corrected.
- In Ind AS 101, First-time Adoption of Ind AS, certain transitional provisions of IFRS 11 Joint Arrangements have been incorporated and a new paragraph D9AA has been added to provide transitional relief for lessors adopting Ind AS 116 Leases for the first time.
- Electricity Distribution (Accounts and Additional Disclosure) Rules, 2025- The MoP has notified the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2025, superseding the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024 dated 10 October 2024. The new rules shall be applicable to specified entities and address key areas such as recognition of regulatory deferral account balances or income recoverable from future tariff, provisioning of trade receivables, content and form of additional disclosure statements and statement of compliance. They shall come into force from 1 April 2026.
- Methodology for calculating Green Credit in respect of tree plantation activity- The MoEFCC has notified the Methodology for calculating Green Credit in respect of tree plantation activities under the Green Credit Rules, 2023. The notification prescribes the basis for determining Green Credits earned through such activities. Green Credits generated from compensatory afforestation or tree plantation under the programme will be non-tradable and non-transferable, except for transfers between a holding company and its subsidiary companies.
- Good practice disclosures observed in EMEIA 2024 IFRS annual reports- EMEIA entities have disclosed in their 2024 IFRS annual reports on the following key areas:
- Impact of tariff tensions
- Segment reporting - changes to segment information based on IFRIC Agenda Decision on disclosure of revenues and expenses for reportable segments
- Breach/modification of covenants
- Connectivity - examples demonstrating connectivity in the annual reports
The same can be implemented in Ind AS companies as a good company practice. - Ministry of Labour and Employment- The Government of India, via the Ministry of Labour and Employment, has issued notification(s) stating that the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 are being made effective from 21 November 2025. These Codes will replace the existing 29 central labour laws. The relevant notifications are attached.Ministry of Electronics and Information TechnologyThe Government of India has also notified the Digital Personal Data Protection Act, 2023 and the Digital Personal Data Protection Rules, 2025 with effect from 13 November 2025.
This version 21.0 has been released on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627, 6.32.9713, 6.33.9810 and 6.34.9900.
Legislative update information
For detailed and specific changes, kindly refer to the Content Change List PDF available in the release pack.
Accounting Reference Number | Details |
|---|---|
Amendments to Ind AS 1 | The amendment provides clarification on classification of liabilities as current or non-current where the right to defer settlement depends on compliance with debt covenants in the next 12 months and requires additional disclosures in such cases. The amendment clarifies what is meant by a right to defer settlement, that this right must exist at the end of the reporting period, and that classification is unaffected by the likelihood of exercising the deferral right. It also clarifies the treatment of convertible liabilities and related disclosure requirements. |
Advisory w.r.t. form MGT-7 certification under MCA V3 portal | Pursuant to the Companies (Management and Administration) Amendment Rules, 2025, certification in Form MGT-8 has been integrated with the E-form MGT-7 on V3 portal thereby capturing the certification under Form MGT-8 in a static field. |
Companies (Indian Accounting Standards) Second Amendment Rules, 2025 | The MCA has issued the Companies (Indian Accounting Standards) Second Amendment Rules, 2025, introducing key amendments along with consequential changes in other Ind AS. |
Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961 (Revised 2025) | The Direct Taxes Committee of ICAI has issued the revised 2025 edition of Guidance note on Tax Audit under Section 44AB of the Income-tax Act, 1961. This publication covers: The amendments introduced by the Finance (No. 2) Act 2024 and Finance Act 2025 to the Income-tax Act, 1961; and The additional reporting requirements in Form No. 3CD introduced vide Notification No. 27/2024 dated 5 March 2024 and Notification No. 23/2025 dated 28 March 2025. |
Companies CSR Policy Amendment Rules 2025 | The MCA has notified Companies CSR Policy Amendment Rules 2025, through which it has made amendments to e-Form No. CSR-1 (Registration of Entities for undertaking CSR Activities). These rules shall come into force with effect from 14 July 2025. |
Amendments to Ind AS 7 and Ind AS 107 - Disclosures: Supplier Finance Arrangements | The amendments specify additional disclosure requirements intended to help users understand the effects of supplier finance arrangements on an entity's liabilities, cash flows and exposure to liquidity risk. |
Amendments to Ind AS 12 - International tax reform—Pillar Two model rules | The amendments introduce a mandatory exception from recognizing and disclosing deferred tax assets and liabilities related to Pillar Two income taxes. |
Lack of exchangeability - Amendments to Ind AS 21 | The MCA notified amendments to Ind AS 21 to specify how an entity should assess whether a currency is exchangeable and how to determine a spot exchange rate when exchangeability is lacking. The amendments also require disclosures to help users understand the impacts on an entity's financial performance, financial position and cash flows. |
Electricity Distribution (Accounts and Additional Disclosure) Rules, 2025 | The MoP has notified the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2025, superseding the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024 dated 10 October 2024. The new rules shall be applicable to specified entities and address key areas such as recognition of regulatory deferral account balances or income recoverable from future tariff, provisioning of trade receivables, content and form of additional disclosure statements and statement of compliance. They shall come into force from 1 April 2026. |
Methodology for calculating Green Credit in respect of tree plantation activity | The MoEFCC has notified the Methodology for calculating Green Credit in respect of tree plantation activities under the Green Credit Rules, 2023. The notification prescribes the basis for determining Green Credits earned through such activities. Green Credits generated from compensatory afforestation or tree plantation under the program will be non-tradable and non-transferable, except for transfers between a holding company and its subsidiary companies. |
Good practice disclosures observed in EMEIA 2024 IFRS annual reports | EMEIA entities have disclosed in their 2024 IFRS annual reports on the following key areas: Impact of tariff tensions; Segment reporting - changes to segment information based on IFRIC Agenda Decision on disclosure of revenues and expenses for reportable segments; Breach/modification of covenants; Connectivity - examples demonstrating connectivity in the annual reports; The same can be implemented in Ind AS companies as a good company practice. |
Ministry of Labour and Employment | The Government of India, via the Ministry of Labour and Employment, has issued notification(s) stating that the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 are being made effective from 21 November 2025. These Codes will replace the existing 29 central labour laws. The relevant notifications are attached. |
Features
Item ID | Title | Details and limitations |
|---|---|---|
4954957 | New variable added into the Configure FPD | New variable is added into the Configure FPD in the Variable level of both the [FY] Non-Import and the [FY] Non-Import [Custom] . Once the Rounding Variable is added, the "Type" is "Decimal" and the Expression is:
|
Corrections
Item ID | Title | Details and limitations |
|---|---|---|
4951607 | XBRL schema change required - Ind-AS | Latest schema URL for new MCA XBRL Validation tool for all taxonomies in MCA V3 portal as given below: The new schema URL is: https://www.mca.gov.in/V3XBRL/ replaces the V2 Schema URL: http://www.mca.gov.in/XBRL/
Old Values: New Value: |
Content changes
Item ID | Title | Details and limitations |
|---|---|---|
4951579 | Directors report & Secretarial audit report | Implemented content revisions to align with recent legislative changes. |
4951591 | Financial statements | Implemented content revisions to align with recent legislative changes. |
4951598 | Updating categories for financial statements | Aligned balance sheet order as per schedule III report. Added new categories:
Removed categories:
|
4951600 | Note 2 - Material accounting policies | Implemented content revisions to align with recent legislative changes. |
4951645 | Note 3 - Property, plant and equipment and right of use asset | Implemented content revisions to align with recent legislative changes. |
4951647 | Note 7 - Financial assets | Implemented content revisions to align with recent legislative changes. |
4951651 | Note 10 - Cash and cash equivalents | Implemented content revisions to align with recent legislative changes. |
4951654 | Note 12 - Other equity | Implemented content revisions to align with recent legislative changes. |
4951660 | Note 13 - Distribution made and proposed | Implemented content revisions to align with recent legislative changes. |
4951664 | Note 14 - Borrowings | Implemented content revisions to align with recent legislative changes. |
4952727 | Note 19 - Income tax | Implemented content revisions to align with recent legislative changes. |
4952732 | Note 20 - Trade and other payables | Implemented content revisions to align with recent legislative changes. |
4954895 | Note 21 - Revenue from operations | Implemented content revisions to align with recent legislative changes. |
4954905 | Note 28 - Other expense | Implemented content revisions to align with recent legislative changes. |
4954906 | Note 37 - Material partly - owned subsidiaries | Implemented content revisions to align with recent legislative changes. |
4954912 | Note 38 - Interest in joint venture | Implemented content revisions to align with recent legislative changes. |
4954919 | Note 49 - Financial risk management objectives and policies | Implemented content revisions to align with recent legislative changes. |
4954921 | Note 50 - Capital management | Implemented content revisions to align with recent legislative changes. |
4954935 | Note 51 - First-time adoption of Ind AS | Implemented content revisions to align with recent legislative changes. |
4954942 | Appendix A | Implemented content revisions to align with recent legislative changes. |
XBRL changes
note
If you are not hosted by Thomson Reuters, please contact the Support desk to obtain the new taxonomy package or in case any assistance is required to map the new taxonomy.
There are no
XBRL
changes for this release.Known issues
Item ID | Details and limitations |
|---|---|
1 | The illustrative model content in this template does not include all the available concepts in the taxonomies. Therefore, the onus will be on users to create and tag any additional content required to produce a valid XBRL file. |
2 | Value errors from MCA validation were forcefully cleared in the XBRL instance document by replacing all values with zero. This cleared all validation errors resulting from calculation relationships between tagged values in the XBRL instance document. Users of the template are required to source and clear their value errors derived from entity-specific values from their use of the template. |
3 | Users of the template are required to source and clear their pre-scrutiny errors derived from entity-specific values from their use of the template. |
4 | It is a known Platform 6.29.9459 issue that any report elements with the display setting never show in the report when viewing the parent folder in isolation using either Design, Preview, or Edit XBRL mode. |
5 | There is a character limitation in the grid column heading. Headers can take up to 60 characters only. |
6 | For XBRL templates we are not changing the display conditions of sections from 'Always' to 'conditional' & for totals from 'Always' to 'AsRequired' as it might throw an XBRL validation error. This might result in an unforeseen situation making changes every time, so to avoid confusion we are suggesting users make their display conditional choice in their entity. |
Additional information
Item ID | Details and limitations |
|---|---|
1 | We have replaced the hyphen (-) in the edit style number settings with a zero (0). This change is expected to improve the clarity and reliability of data parsing through automated systems, reducing potential errors in financial reporting while validating the MCA XBRL Validation tool. |
Impact on existing clients
There are no impacts identified for this release.
Deviations from standard configuration
There are no deviations identified for this release.
Appendix
There are no appendix items for this release.
Related Content
-
India AS
Format:
Article,
1 min read