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Which accounting standard to be followed AS as per ICAI or IND AS notified by MCA
Accounting Standard to be followed AS or IND AS ?
28 May 2016 
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Applicability of Indian Accounting Standards determines whether IND AS or Accounting Standards govern company financial reporting.
Applicability determines whether IND AS or Accounting Standards govern a company: notified Indian Accounting Standards apply to companies listed in the statutory applicability rules, while companies not covered by that list continue to follow Accounting Standards. The professional body drafts the standards, but regulatory notification establishes formal applicability, so practitioners must verify statutory criteria to determine the applicable framework. (AI Summary)
Applicability determines whether IND AS or Accounting Standards govern a company: notified Indian Accounting Standards apply to companies listed in the statutory applicability rules, while companies not covered by that list continue to follow Accounting Standards. The professional body drafts the standards, but regulatory notification establishes formal applicability, so practitioners must verify statutory criteria to determine the applicable framework. (AI Summary)