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ICAI has issued Exposure Draft for Accounting Standard (AS) – 17 Leases

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The Accounting Standard Board of ICAI has finalised AS 17, Leases, taking Ind AS 17, Leases, notified by MCA as the base. The ASB decided not to take Ind AS 116 which supercedes Ind AS 17 as the base for the purpose of this AS. Major differences between draft AS 17 and Ind AS 17, Leases, are included in the Appendix 1 of the draft Standard. Major differences between draft AS 17 and AS 19 are given in Appendix 2 of the draft Standard.

Under draft AS 17, certain exemptions have been provided to small and medium-sized companies as defined in the MCA notification and small and medium-sized entities (Level II and III non-corporate entities) as per criteria prescribed by the ICAI with regard to certain disclosure requirements under paragraphs 31, 35, 47 and 56 to reduce disclosures for such entities.

The ASB invites comments on any aspect of this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.


How to Comment:
Comments can be submitted using one of the following methods so as to receive not later than May 4, 2019:
Electronically: click on to submit comments online
Email: Comments can be sent at


To download, Exposure Draft AS-17 – Leases

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