Applicability of Ind AS

       On 16 Feb 2015, along with Ind AS, MCA has also notified implementation roadmap which is going to be phase wise as given below.

(a)    Early adoption permitted voluntarily from 1April 2015, with one year comparative

(b)   Phase I applicable from 1 April 2016 onward to

                   - Listed & Unlisted Companies  having net worth => 500 crores

                   - Holding, Subsy, JV or Asso of above

(c)     Phase 2 applicable from 1 April 2017 onward to

                    - Listed companies having NW less than 500 cr

                    - Unlisted companies having NW >= 250 cr but less than 500 cr

                    - Holding, Subsidiary, JV and Associate of above

• The Net worth is having the same meaning as defined in section 2(57) of the companies Act, 2013.
• Ind AS will apply to both Consolidated as well as standalone financials of the company.
• Ind AS once adopted either voluntarily or mandatorily can not be revoked in prospective years even in case of net worth goes down from specified limit or any other criteria given in roadmap.