The Indian Ministry of Corporate Affairs (MCA)
has issued 35 Indian Accounting Standards (IND AS) that are
converged with IFRS, but has not given a date for

The standards are the next step in India’s
IFRS convergence plan but the MCA has said a date for phased
implementation can only be made once certain Indian tax and other
issues have been resolved.

Indian accounting standards are based on IFRSs
with some carve-outs. Further changes have also been made by the