Applicability of Indian Accounting Standard (IND AS)

S. NO.

Class of companies

Particulars

Applicable w.e.f.

Remark

1

Any company

Voluntarily

01/04/2015

• Non reversible decision / irrevocable
• Need to be followed consistently

2

All listed companies or companies in process of listing in India or abroad

Net worth > = 500 crores

01/04/2016

• Criteria need to be checked only at first time adoption i.e. in 1^st year only.

All other companies i.e. unlisted companies

Net worth >= 500 crores

01/04/2016

• Criteria need to be checked only at first time adoption i.e. in 1^st year only.

Holding company, Subsidiaries , Joint ventures or associate companies  of above mentioned companies

No such condition

01/04/2016

• Not covered overseas subsidiaries, joint ventures, associates or any other similar entities of an Indian company
• IND As will be applicable on Consolidated financials of such Indian company
• In case of vice versa case, IND AS will be applicable on Indian subsidiary, joint venture, associate or similar entities of a foreign company

3

All listed companies or companies in process of listing in India or abroad

Net worth < 500 crores

01/04/2017

• Criteria need to be checked only at first time adoption i.e. in 1^st year only.

All other companies i.e. unlisted companies

Net worth >=  250 crores <500 crores

01/04/2017

• Criteria need to be checked only at first time adoption i.e. in 1^st year only.

Holding company, Subsidiaries , Joint ventures or associate companies  of above mentioned companies

No such condition

01/04/2017

• Not covered overseas subsidiaries, joint ventures, associates or any other similar entities of an Indian company
• IND As will be applicable on Consolidated financials of such Indian company
• In case of vice versa case, IND AS will be applicable on Indian subsidiary, joint venture, associate or similar entities of a foreign company