Ind as applicability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2017 Dear Expert,

I would like to know the applicability of IND AS for the company having net worth less than 20 crore? From which year, it will be applicable or fall under IND AS?

Thanks is advance.

Expert : Anonymous

Expert : Anonymous (Expert)

15 February 2017 company having net worth

Expert : Anonymous

Expert : Anonymous (Expert)

15 February 2017 Company having net worth less than 20 crore is not required to implement IND AS. however it may implement it voluntary for which effective date was 01.04.2015. If company is listed then effective date of implementation would be 01.04.2017

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Sathish M

Sathish M (Expert)
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16 February 2017 Such Companies having a Net-worth of less than Rs.250 crore are out of the purview of IND-AS and for they may choose to follow the existing Accounting Standards prescribed in Annexure to the Companies (Accounting Standards) Rules, 2006.