The Institute ICAI has Issued Study Material on IND AS (as notified by MCA) for Members and CA Students on 22/09/2017


 MCA had notified the amendments to the Ind AS vide notification dated March 17, 2017, as Companies (Indian Accounting Standards) Amendment Rules, 2017. This publication significantly captures all the recent amendments in Ind AS.

This Educational Material has been formulated in accordance with the Ind AS notified by the Ministry of Corporate Affairs (MCA) as Companies (Indian Accounting Standards) Rules, 2015 vide Notification dated February 16, 2015 and other amendments finalized and notified till March 2017.     

The Hon'ble Finance Minister of India, Shri Arun Jaitely ji, in his Budget Speech in July 2014 stated that –

“There is an urgent need to converge the current Indian accounting standards with the International Financial Reporting Standards (IFRS). I propose for adoption of the new Indian Accounting Standards (Ind AS) by the Indian companies from the financial year 2015-16 voluntarily and from the financial year 2016-17 on a mandatory basis. Based on the international consensus, the regulators will separately notify the date of implementation of Ind AS for the Banks, Insurance companies etc. Standards for the computation of tax would be notified separately”.   

 As per the Notification, Indian Accounting Standards (Ind AS) converged with International Financial Reporting Standards (IFRS) shall be implemented on voluntary basis from 1st April, 2015 and mandatory from 1st April, 2016. Further, the MCA on March 30, 2016, has also notified the Road map for implementation of Ind AS for Scheduled Commercial Banks, Insurance companies and NBFCs from 1 st April, 2018 onwards and also amendments to Ind AS in line with the amendments made in IFRS/IAS vide Companies (Indian Accounting Standards) Amendment Rules, 2016. However, IRDAI vide press release dated June 28, 2017 has deferred the implementation of Ind AS in the Insurance Sector in India for a period of two years and the same shall now be implemented effective from 1st April 2020.   

Ind As Overview ( Revised 2017) -


Educational Material on Indian Accounting Standard (Ind AS) 18, Revenue (Revised 2017)



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