Yes it will be applicable for May 2018 attempt. As per rule whatever amendments made 6 months before the exam are the only amendments relevant for next attempt.
ICAI will notify you the syllabus of your attempt well in advance. So keep a watch on ICAI announcements.
19 July 2017
You are always welcome dear friend and I would suggest you to keep sharing your doubts through the platform of Caclubindia for relevant answers from learned experts.