Service concession agreement under ind as 115

Amit Mall   01 October 2018

Amit Mall

 2 points

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Under IndAs 115, Service Concession Agreement, an asset earlier classifed as PPE is to be classified as intangible or financial asset. However, in case the ppe asset is reclassified as financial asset, the earlier available depreciation benefit is lost and consequently higher tax needs to be paid. Is there any exemption to this? How can a company take hit due to such transition in reporting?

Sandeep Garg (Consolidation and IndAS Application)     04 September 2019

Sandeep Garg
Consolidation and IndAS Application 
 89 likes  1056 points

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You have a choice for retrospective application or prospective application.

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