The changes include revised application of Ind AS 101 for first-time adopters regarding lease classification. Ind AS 107 and Ind AS 7 include new disclosure requirements for supplier finance arrangements, allowing user to assess their impact on liabilities and cash flows. Ind AS 1 now contains refined criteria for classifying liabilities as current or non-current, specifically addressing the effect of covenants and the right to defer settlement. The amendments to Ind AS 12 introduce an exception for deferred tax related to Pillar Two income taxes from global tax reform and mandate new disclosures about a company’s exposure to this tax.