Ind AS Implementation Services
First-time adoption and ongoing compliance support for companies crossing the MCA's Ind AS net-worth thresholds — GAAP-to-Ind AS transition, opening balance sheet restatement, and Ind AS 101 exemption analysis, led by ICAI-registered Chartered Accountants in Mumbai.
Indian Accounting Standards (Ind AS) become mandatory for a company once its net worth crosses ₹250 crore (unlisted) or it is listed, per the Companies (Indian Accounting Standards) Rules, 2015. NBFCs follow a separate roadmap based on net worth thresholds of ₹250 crore and ₹500 crore, while scheduled commercial banks and insurers currently continue to follow their existing regulator-specific frameworks. Once triggered, Ind AS applies group-wide — holding, subsidiary, associate and joint venture companies must adopt it too, even if they individually fall below the threshold — and continues to apply even if net worth later drops. Voluntary adoption outside the roadmap is not permitted. The Classic Partners LLP handles the full transition: applicability assessment, GAAP difference analysis, opening balance sheet restatement under Ind AS 101, and audit-ready first Ind AS financial statements.
A transition that doesn't disrupt your reporting calendar
Moving from existing Indian GAAP to Ind AS changes how you recognise revenue, measure financial instruments, account for leases, consolidate group entities and present your financial statements — not just the numbers, but the underlying policies behind them.
We run the applicability check first, so you know exactly when Ind AS becomes mandatory for your company and its group entities, then work through the GAAP difference analysis, restated opening balance sheet, and first Ind AS financial statements — reconciled and explained line by line for your board and auditors.
- Applicability assessment against MCA and NBFC/RBI roadmaps
- Ind AS vs. existing GAAP difference (gap) analysis
- Opening Ind AS balance sheet under Ind AS 101 exemptions
- Restated comparative financial statements
- Group-wide impact assessment for holding/subsidiary/JV entities
- Finance team training and process/system changes
When Ind AS becomes mandatory for your company
Applicability is based on net worth and listing status, assessed against the immediately preceding audited financial statements.
| Category | Threshold | Effective from |
|---|---|---|
| Listed / unlisted companies | Net worth ≥ ₹500 crore (Phase I) | 1 April 2016 |
| All listed companies + unlisted companies | Net worth ≥ ₹250 crore but < ₹500 crore (Phase II) | 1 April 2017 |
| NBFCs (listed, or high net worth) | Net worth ≥ ₹500 crore, or listed/in process of listing | 1 April 2018 |
| NBFCs | Net worth ≥ ₹250 crore but < ₹500 crore | 1 April 2019 |
| Group entities | Holding, subsidiary, associate or JV of any Ind AS-applicable company | Same date as parent, regardless of own net worth |
| Banks & insurers | Follow separate RBI/IRDAI roadmap | Deferred by respective regulator |
Not sure whether your company or group has crossed the threshold? Send us your last audited balance sheet — we'll confirm in one call.
What our Ind AS implementation covers
From applicability assessment to your first set of audited Ind AS financial statements.
Applicability Assessment
Net worth calculation and group-entity mapping to confirm exactly when Ind AS becomes mandatory for you.
GAAP Difference Analysis
Line-by-line comparison of your current accounting policies against Ind AS — revenue, leases, financial instruments, business combinations.
Opening Balance Sheet
Restated opening Ind AS balance sheet at the transition date, applying available Ind AS 101 first-time adoption exemptions.
Comparative Financials
Restatement of the comparative year's financial statements to Ind AS for a consistent first reporting cycle.
Group Reporting Impact
Assessment of how the transition affects consolidated financial statements across holding, subsidiary and JV entities.
Training & Handover
Finance team walkthroughs on new policies, disclosures and system changes needed to sustain Ind AS reporting.
Our four-stage transition process
Sequenced so your first Ind AS financial statements are audit-ready, not a last-minute scramble.
Applicability & scoping
Confirm your transition date, applicable exemptions and the group entities that need to transition alongside you.
Gap analysis
Identify every accounting policy that changes under Ind AS and quantify the impact on your financial statements.
Restatement
Build the opening Ind AS balance sheet and restated comparatives, with full reconciliation to previous GAAP figures.
First Ind AS financials
Finalise your first Ind AS financial statements, disclosures and notes, ready for statutory audit sign-off.
A transition led by the people who'll audit the result
Partner-led, fixed-fee and built around your reporting deadlines.
Applicability precision
We check net worth and group relationships carefully — getting the transition date wrong creates its own compliance risk.
Fixed fee, written upfront
Scoping call, then a written quote covering the full transition, not just the first phase.
Ind AS 101 exemption expertise
We identify which optional exemptions reduce your restatement effort without compromising compliance.
Auditor-ready output
Reconciliations and disclosures built to withstand statutory audit scrutiny on first submission.
Group-wide view
We assess the transition's ripple effect across your entire corporate group, not just the standalone entity.
One firm, all compliance
Works alongside our statutory audit and IFRS implementation practices.
Ind AS questions CFOs ask us
Straight answers before you start the transition.
Ready to plan your Ind AS transition?
Tell us your net worth, listing status and group structure. You'll get a transition roadmap and fixed quote within one working day.
