Whether ROU Assets and Lease Liability as required under Ind AS 116 needs to be created for cancellable leases.
Whether treatment is same for Cancellable lease and non cancellable lease ??
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Treatment of cancellable lease as per ind as 116
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You need to check the practical position of cancellable clause i.e. whether it is economically viable or not / whether practically possible or not. Then we need to create ROU / liability.
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