UmangUmang asked 11 months ago

Will violation of industrial dispute act have material impact on financial statement
CA Final Refer MCQ 202 and 203

1 Answers
RaviRavi Staff answered 11 months ago

SA 250 divides law in 3 parts  — direct effect / may have material effect / other laws (remaining)

Laws having direct effect means which generally have material impact — like schedule III / income tax act / gst etc
Then there are laws which MAY have material impact — Industrial Dispute Act may have material impact if there is non-compliance 

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