1. The General Circular No 18/2012 dated 26th July 2012 said that the cost auditors & the companies shall file their cost audit report & compliance report in XBRL mode for the FY 11-12 onwards and that the reports submission dates have been postponed to 31st Dec 2012.

2. In line with the above notification, MCA has issued on 30th November 2012, various notifications.

3. The notifications are in respect of the amendments made in Companies (Cost Audit Report Rules) 2011, Companies (Cost Accounting Records) Rules 2011 and industry specified cost accounting records rules for Electricity , Fertilizer, Petroleum, Pharmaceutical , Telecommunications & Sugar industry.

4. All the amendments shall be applicable from 2nd December 2012

5. The changes have been made in the definitions of Form-I, Form-II, Product Group, Form-A & Form-B of the Companies (Cost Audit Report) Rules, 2011 and The Companies (Cost Accounting Records) Rules, 2011 & industry specified cost accounting record rules, 2011

6. Definition of “Form –I” has been changed to “Form I-XBRL” means the Form prescribed in these rules for filing cost audit report and other documents with the Central Government in the electronic mode and in the manner prescribed under rule 5 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011’

7. Definition of “Form –II” has been changed to “Form II-XBRL” means the Form of the cost auditor’s report and includes auditor’s observations and suggestions, and Annexure to the cost audit report and further includes the data or information required to be filed with the Central Government in the manner prescribed under rule 5 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011’

8. Definition of “Form –A” has been changed to “Form A-XBRL” means the form prescribed in these rules for filing compliance report and other documents with the Central Government in the electronic mode and in the manner prescribed under rule 6 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011’

9. Definition of “Form –B” has been changed to “Form-B” means the form of the compliance report and includes Annexure to the compliance report and further includes the data or information required to be filed with the Central Government in the manner prescribed under rule 6 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011’

10. Definition of “Product Group” has been changed to “Product or Activity Group” means the product or activity groups notified vide S.O. 1747(E), dated the 7th August, 2012’

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Notifications issued on 30.10.2012 can be accessed at the following link :-

Cost Accounting Records (Telecommunication Industry) Amendment Rules, 2012

Cost Accounting Records (Petroleum Industry) Amendment Rules, 2012

Cost Accounting Records (Electricity Industry) Amendment Rules, 2012

Cost Accounting Records (Sugar Industry) Amendment Rules, 2012

Cost Accounting Records (Fertilizer Industry) Amendment Rules, 2012

Companies (Cost Accounting Records) Amendment Rules, 2012

Cost Accounting Records (Pharmaceutical Industry) Amendment Rules, 2012

Compliance Report and Cost Audit Report to be filed using XBRL mode

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Author

CMA ROHIT J VORA

Controlling Partner

Rohit & Associates

Cost Accountants

contact@rohitvora.com

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