valid as on 27/07/2021

9.9.5- Companies (Accounting Standards) Rules, 2021

5. Qualification for exemption or relaxation in respect of SMC:-

An existing company, which was previously not Small and Medium Sized Company (SMC) and subsequently becomes a SMC, shall not be qualified for exemption or relaxation in respect of Accounting Standards available to a SMC until the company remains a SMC for two consecutive accounting periods.


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