Hi @PinmayaK , 

As far as I know , the date format depends on server/client culture.

But since you were asking, the app param DYNAMICS_TIMESTAMP_FORMAT could be used  for filtering Dynamic records using a timestamp value for the given date and time format. Therefore, you can configure your desired format when filtering. Otherwise, I would like to suggest to have a look with IFS_FND_DATETIME_FORMAT, IFS_TIMESTAMP_FORMAT and SALESFORCE_TIMESTAMP_FORMAT to see whether they would help you. But the latter part is applicable for IFS Apps integrations. Therefore, as I mentioned before the date format would depend on the server/client rather than a configured app param.