XBRL FOR COST RECORDS


COMPLIANCE REPORT

Pursuant to the Companies (Cost Accounting Records) Rules, 2011 issued vide notification G.S.R. 429(E) dated 3rd June, 2011; Compliance Report is applicable for lot of companies for the financial year 2011-12 onwards.

Whether Compliance Report is applicable for the financial year 2011-2012, can be ascertained on the basis of net worth/turnover as per the audited balance sheet as on 31st March, 2011.

Every company to which these rules apply shall submit a compliance report, in respect of each of its financial year commencing on or after the 1st April, 2011, duly certified by a cost accountant, along with the Annexure to the Central Government, within 180 days from the close of the company's financial year to which the compliance report relates.

It has been decided by the Ministry of Corporate Affairs to mandate the cost auditors to file Compliance Report i.e. Form A by using XBRL taxonomy. [General Circular No. 8/2012 dated 10th May, 2012]

As per Ministry of Corporate Affairs Circular No. 18 dated 26th July, 2012 the time limit for filing of Compliance Report with Central Government has been extended up-to 31st December 2012.