Cost Audit Reports for 2011-12 can now be filed in XBRL mode without penalty until January 31, 2013.
The Ministry of Corporate Affairs has issued a directive allowing cost auditors and companies to file their Cost Audit Reports and Compliance Reports for the financial year 2011-12, including any overdue reports from previous years, in the XBRL mode without penalty. The deadline for submission is within 180 days from the end of the company's financial year or by January 31, 2013, whichever is later. The Institute of Cost Accountants of India is requested to disseminate this information to all relevant parties. Copies of the circular have been distributed to various government departments for further action.
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