As you are kindly aware that the Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB). In this regard, it may be noted that IFRS Standards are being issued/revised by the IASB from time to time. As a part of convergence with IFRS Standards, the Ind AS may be issued/revised corresponding to the IFRS Standards. Accordingly, whenever any amendments are made or new IFRS Standard/IFRIC is issued by the IASB, the Accounting Standards Board (ASB) of the ICAI considers those amendments and other related aspects for amending the corresponding Ind AS.

In this regard, the Accounting Standards Board has issued the following Exposure Drafts for public comments with the last date of comments being January 30, 2023: Last date of submission of comments on Amendments to Ind AS 1 has been extended to February 28, 2023:

• Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants - Amendments to Ind AS 1, Presentation of Financial Statements
  
  
  (Last date of submission of comments has been extended to February 28, 2023)
  The downloadable version of the Exposure Draft is available at: https://resource.cdn.icai.org/72564asb58459-indas1.pdf
  
  
• Lease Liability in a Sale and Leaseback – Amendments to Ind AS 116, Leases
  
  The downloadable version of the Exposure Draft is available at: https://resource.cdn.icai.org/72565asb58459-indas116.pdf
  
  

Comments on the abovementioned Exposure Drafts may be submitted through any of the following modes: