Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Applicability of ind - as

Sathish M (Management Accountant) (40581 Points)

26 March 2015

From which period is Ind AS applicabe ?

Reply
Follow
Share

1 Replies

Avishek Tibrewal (Chartered Acccountant) (37 Points)
Replied 29 March 2015

Prescribing the road map for the implementation of the new Indian accounting standards (Ind AS), the Corporate Affairs ministry on Friday (2nd January, 2015) specified the class of companies that have to move to the new accounting system that are close to the International Financial Reporting Standards (IFRS).

The raod map is as follows:-

Type of Company	Applicable From
Companies whose equity or debt securities are listed or are in the process of listing on any stock exchange in India or outside India and having net worth of Rs 500 Crore or more	April 1, 2016
Companies other than (Unlisted) these, but having net worth of Rs 500 Crore or more and also their holding, subsidiary, joint venture or associate companies	April 1, 2016
Companies whose equity and/or debt securities are listed or are in the process of being listed on any stock exchange in India or outside India and having net worth of less than rupees 500 Crore.	April 1, 2017
Companies other than above (unlisted) with net worth of Rs 250 crore or more but less than Rs 500 crore and their holding, subsidiary, joint venture or associate companies	April 1, 2017
Companies not covered under this notification Banking Companies, insurance companies and non- banking finance companies (NBFCs)	Not Applicable