Its not india impact
IND AS 116 (Indian Accounting Standard 116) is a financial reporting standard introduced by the Institute of Chartered Accountants of India (ICAI) that governs lease accounting. The standard was issued in 2019 and came into effect from April 1, 2019.
In the past, when companies leased assets, they only had to show the cost of the lease payments they made in their financial statements, and not the full value of the leased asset itself. But now, with IND AS 116, companies have to show the full value of the asset on their financial statements
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