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The MCA has notified 39 IND AS as Companies (Indian Accounting Standards) Rules, 2015 with the following road-map of implementation: Phase I : From April, 2016 - MANDATORY Basis Companies listed /in process of listing on Stock Exchanges in India or Outside India having net worth > Rs. 5 Billion Unlisted Companies having net worth > Rs. 5 Billion Parent, Subsidiary, Associate and J.V. of above Phase II :  From April, 2017 - MANDATORY Basis All Companies which are listed/in process of listing inside or Outside India on Stock Exchanges not covered in Phase 1 (other than those listed on SME Exchanges) Unlisted  Companies having  net worth > Rs. 2.5 Billion Parent, Subsidiary, Associate and J.V. of above Note :   Companies listed on SME exchange are not required to to apply for IND AS. Once IND AS are applicable, companies shall be required to follow the same for all the subsequent financial statements. Also read: Applicable Stand