October 2018

Ind AS vs. ICDS Differences

Dolphy D'Souza, Chartered Accountant

The author Dolphy DíSouza has provided a detail list of differences between Ind AS and ICDS.  ICDS are closer to Indian GAAP than Ind AS.  The differences between ICDS and Ind AS have further exacerbated due to introduction of new standards, such as, Ind AS 115 Revenue from Contracts with Customers.  These differences will further increase over time. Consequently, an Ind AS company will be required to track these differences to enable tax computation.  If the differences are numerous, it is best that the tracking is done in the system rather than outside the system such as on excel spread-sheets.


Point of Difference

Ind AS


Ind AS 1 vs. ICDS I


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