XBRL Software Tool for e-filing of Cost Audit & Compliance Reports
Towards a service to our members, the Institute has provided FREE OF COST to its members an XBRL Software Tool for creation of Instance Documents of Cost Audit Report and Compliance Report using Costing Taxonomy and Business Rules published by the Ministry of Corporate Affairs for e-filing of these reports in XBRL Format. The Software Tool can be downloaded from the Institute website.
Amendments in Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011
To enable e-filing of Cost Audit Report and Compliance Report in XBRL Format, the Ministry of Corporate Affairs has amended the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, on 30th November, 2012 and inserted Rule 5 for filing of cost audit report and other documents using XBRL taxonomy by cost auditors and Rule 6 for filing of compliance report and other documents by companies with the Central Government using the XBRL Taxonomy.
Amendments in Companies (Cost Audit Report) Rules 2011 and Cost Accounting Records Rules
The Central Government has also amended on 30.11.2012 the e-forms and Forms relating to filing of Cost Audit Report and Compliance Report in XBRL Format. The Form-I and Form-II to Cost Audit Report Rules 2011 dated 3rd June 2011 have been amended to Form-I XBRL and Form-II modified. Further, Form-A and Form-B to Cost Accounting Records Rules viz. Companies (Cost Accounting Records) Rules dated 3rd June 2011 and Cost Accounting Records Rules dated 7th December 2011 for six regulated industries namely Telecommunication, Petroleum, Electricity, Fertilizer, Sugar and Pharmaceutical, have been amended to Form-A XBRL and Form-B modified. The above amendments also stated that the definition of “Product/ Activity Group” shall be in accordance with “Product/Activity Group Classification” notified by the Ministry of Corporate Affairs vide S.O. 1747(E), dated the 7th August, 2012. The amendments can be downloaded from the Institute website or MCA website.
XBRL Filings in MCA-21
The filings for the Cost Audit Report and Compliance Report in the XBRL format commenced from December 02, 2012 in the MCA-21 system. The Institute has taken lot of initiatives to equip the members in efficiently generating the XBRL reports and successfully filing them with the Government. Some of the initiatives are:
I am also pleased to inform that on the request of the Institute, the Ministry of Corporate Affairs has decided to extend the last date of filing of Cost Audit Report and Compliance Report in XBRL format from December 31, 2012 to January 31, 2013.
Source- Extract from CMA President Communique for January, 2013