NOTE ON XBRL FILING
{Companies (Filing of Documents and
Forms in Extensible Business Reporting Language) Rules, 2015}
INTRODUCTION
As per section 137 of the Companies Act, 2013, every Company is required
to file its financial statements along with consolidated financial statements,
if applicable, to the Registrar within 30 days of Annual General Meeting or due
date of Annual General Meeting, whichever is earlier.
But there are certain class of Companies as prescribed by the Central Government
which are mandatorily required to file their financial statement in Extensible Business Reporting Language
(XBRL) format.
The XBRL means a standardised language for communication in electronic
form to express, report or file financial information by companies.
WHO SHALL FILE
IN XBRL FORMAT
The following
class of companies shall file their financial statement along with consolidated
financial statements, if applicable, and other documents under section 137 of
the Companies Act 2013, with the Registrar in e-form AOC-4 XBRL using the XBRL
taxonomy:
1.
all
companies listed with any Stock Exchange(s) in India and their Indian
subsidiaries; or
2.
all
companies having paid up capital of Rs. 5 crore or above;
3.
all
companies having turnover of Rs. 100 crore or above; or
4.
all
companies which were hitherto covered under the Companies (Filing of Documents
and Forms in Extensible Business Reporting Language) Rules, 2011.
Please note that
companies in banking, insurance, power sector, non-banking financial companies
and Housing finance companies need not file financial statements in XBRL
format.
FILING OF COST
AUDIT REPORT IN XBRL FORMAT
A company whose
cost records are required to be audited as per section 148 of the Companies
Act, 2013 and rules made there under, shall file within 30 days from the date
of receiving Cost audit report to the Central Government such report and other
documents using the XBRL taxonomy in e-Form CRA-4.
Maintenance of
Cost Records:
Companies
falling under the regulated and non-regulated sectors mentioned in Rule 3 of
the Companies (Cost Records and Audit) Rules, 2014 engaged in the production of the goods or providing services having an
overall turnover from all its products and services of Rs. 35 crore or more
during the immediately preceding financial year, shall include cost records for
such products or services in their books of account.
Exception to maintain Cost Records:
1.
Serial
number 33 of the non-regulated sectors shall not apply to foreign companies
having only liaison offices
2.
A
company which is classified as a micro enterprise or a small enterprise
including as per the turnover criteria under sub-section (9) of section 7 of
the Micro. Small and Medium Enterprises Development Act, 2006.
Applicability of
Cost Audit:
1.
Companies
covered under regulated sectors having overall Annual Turnover from all its
product & services during the preceding financial year Rs. 50 Crore or more
and aggregate turnover of the individual product(s) or service(s) during the
preceding financial year Rs. 25 crore or more.
2.
Companies
covered under non-regulated sectors having overall Annual Turnover from all its
product & services during the preceding financial year Rs. 100 Crore or
more and aggregate turnover of the individual product(s) or service(s) during
the preceding financial year Rs. 35 crore or more.
Exception to Applicability of Cost Audit:
The requirement for Cost Audit
shall not apply to a company which is covered in rule 3 of the Companies (Cost Records and
Audit) Rules, 2014, and:
1. whose
revenue from exports, in foreign exchange, exceeds 75% of its total revenue;
2. which
is operating from a special economic Zone;
3. which
is engaged in generation of electricity for captive consumption through Captive
Generating Plant. For this purpose, the term "Captive Generating
Plant" shall have the same meaning as assigned in rule 3 of the
Electricity Rules, 2005.
The Cost Audit report
shall be given within 180 days from the closure of financial year to the
Company by the Cost Auditor in Form CRA-3.
(A) Regulated Sectors
Sl.
No. |
Industry/ Sector/ Product/ Service
|
Central Excise
Tariff Act Heading (wherever applicable)
|
1.
|
Telecommunication services made
available to users by means of any transmission or reception of signs,
signals, writing, images and sounds or intelligence of any nature and
regulated by the Telecom Regulatory Authority of India under the Telecom
Regulatory Authority of India Act, 1997 (24 of 1997); including activities
that requires authorisation or license issued by the Department of
Telecommunications, Government of India under Indian Telegraph Act, 1885 (13
of 1885);
|
Not applicable.
|
2.
|
Generation, transmission, distribution
and supply of electricity regulated by the relevant regulatory body or
authority under the Electricity Act, 2003 (36 of 2003);
|
Generation-
2716; Other Activity- Not Applicable
|
3.
|
Petroleum products; including
activities regulated by the Petroleum and Natural Gas Regulatory Board under
the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006);
|
2709 to 2715;
Other Activity- Not Applicable |
4.
|
Drugs and pharmaceuticals;
|
2901 to 2942;
3001 to 3006.
|
5.
|
Fertilisers;
|
3102 to 3105.
|
6.
|
Sugar and industrial alcohol;
|
1701; 1703;
2207.
|
(B) Non-regulated Sectors
Sl. No.
|
Industry/ Sector/ Product/ Service
|
Central Excise
Tariff Act Heading (wherever applicable)
|
1.
|
Machinery
and mechanical appliances used in defence, space and atomic energy sectors
excluding any ancillary item or items;
Explanation.
- For the purposes of this sub-clause, any company which is engaged in any
item or items supplied exclusively for use under this clause, shall be deemed
to be covered under these rules.
|
8401; 8801 to
8805; 8901 to 8908.
|
2.
|
Turbo jets and turbo propellers;
|
8411
|
3.
|
Arms and ammunitions and Explosives;
|
3601 to 3603;
9301 to 9306.
|
4.
|
Propellant powders; prepared
explosives (other than propellant powders); safety fuses detonating fuses;
percussion or detonating caps; igniters; electric detonators ;
|
3601 to 3603
|
5.
|
Radar apparatus, radio navigational
aid apparatus and radio remote control apparatus;
|
8526
|
6.
|
Tanks and other armoured fighting
vehicles, motorised, whether or not fitted with weapons and parts of such
vehicles, that are funded (investment made in the company) to the extent of
ninety per cent, or more by the Government or Government agencies;
|
8710
|
7.
|
Port services of stevedoring,
pilotage, hauling, mooring, re-mooring, hooking, measuring, loading and
unloading services rendered by a Port in relation to a vessel or goods
regulated by the Tariff Authority for Major Ports;
|
Not applicable.
|
8.
|
Aeronautical services of air traffic
management, aircraft operations, ground safety services, ground handling,
cargo facilities and supplying fuel rendered by airports and regulated by the
Airports Economic Regulatory Authority under the Airports Economic Regulatory
Authority of India Act, 2008 (27 of 2008);
|
Not applicable.
|
9.
|
lron and Steel;
|
7201 to 7229;
7301 to 7326
|
10.
|
Roads and other infrastructure
projects corresponding to para No. (1) (a) as specified in Schedule VI of
the Companies Act, 2013 (18 of
2013);
|
Not applicable.
|
11.
|
Rubber and allied products; including
products regulated by the Rubber Board constituted under the Rubber Act, 1947
(XXIV of 1947);
|
4001 to 4017
|
12.
|
Coffee and tea;
|
0901 to 0902
|
13.
|
Railway or tramway locomotives,
rolling stock, railway or tramway fixtures and fittings, mechanical
(including electro mechanical) traffic signalling equipment’s of all kind;
|
8601 to 8608.
|
14.
|
Cement;
|
2523; 6811 to
6812
|
15.
|
Ores and Mineral products;
|
2502 to 2522;
2524 to 2526; 2528 to 2530; 2601 to 2617
|
16.
|
Mineral fuels (other than Petroleum),
mineral | oils etc.;
|
2701 to 2708
|
17.
|
Base metals;
|
7401 to 7403;
7405 to 7413; 7419; 7501 to 7508; 7601 to 7614; 7801 to 7802; 7804; 7806;
7901 to 7905; 7907; 8001; 8003; 8007; 8101 to 8113.
|
18.
|
Inorganic chemicals, organic or
inorganic compounds of precious metals, rare-earth metals of radioactive
elements or isotopes, and Organic Chemicals;
|
2801 to 2853;
2901 to 2942; 3801 to 3807; 3402 to 3403; 3809 to 3824.
|
19.
|
Jute and Jute Products;
|
5303, 5310
|
20.
|
Edible Oil;
|
1507 to 1518
|
21.
|
Construction Industry as per para No.
(5) (a) as specified in Schedule VI of
the Companies Act 2013 (18 of 2013);
|
Not applicable.
|
22.
|
Health services, namely functioning as
or running hospitals, diagnostic centres, clinical centres or test
laboratories;
|
Not applicable.
|
23.
|
Education services, other than such
similar services falling under philanthropy or as part of social spend which
do not form part of any business.
|
Not applicable.
|
24.
|
Milk powder;
|
0402
|
25.
|
Insecticides;
|
3808
|
26.
|
Plastics and polymers;
|
3901 to 3914;
3916 to 3921; 3925
|
27.
|
Tyres and tubes;
|
4011 to 4013
|
28.
|
Paper;
|
4801 to 4802.
|
29.
|
Textiles;
|
5004 to 5007;
5106 to 5113; 5205 to 5212; 5303; 5310; 5401 to 5408; 5501 to 5516
|
30.
|
Glass;
|
7003 to 7008;
7011; 7016
|
31.
|
Other machinery and Mechanical
Appliances;
|
8402 to 8487
|
32.
|
Electricals or electronic machinery;
|
8501 to 8507;
8511 to 8512; 8514 to 8515; 8517; 8525 to 8536; 8538 to 8547.
|
33.
|
Production,
import and supply or trading of following medical devices, namely:-
|
9018 to
9022"].
|
Contact Details:
VISHAL SHARMA
Company Secretary
Mob: 9716763754
Email: csvishalpbs@gmail.com
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http://csvishalsharma.blogspot.in/
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Disclaimer: The Content is prepared on the basis of our general understanding and on the basis of relevant provision of Companies Act, 2013 read with rules made there under. The whole content is only for the knowledge sharing purpose, we do not take any responsibility for the correctness of the same.
Disclaimer: The Content is prepared on the basis of our general understanding and on the basis of relevant provision of Companies Act, 2013 read with rules made there under. The whole content is only for the knowledge sharing purpose, we do not take any responsibility for the correctness of the same.
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ReplyDeleteXBRL Filing