The International Accounting Standards Board (IASB) has proposed some clarifications to the new revenue recognition standard, IFRS 15, a senior official of the global standard setter said.
This new standard — to be mandatory from January 1, 2018 — outlines a single comprehensive model of accounting for revenue arising from contracts with customers.Earlier application of IFRS15 is permitted and India is expected to soon take a call on this issue. India had earlier indicated that it would adopt new revenue recognition concepts from April 1 next year. It may, however, now rethink its earlier decision with the international community deciding to defer implementation by one year.

Source - http://www.thehindubusinessline.com