The Ministry of Corporate Affairs (“MCA”), in the news and important updates section of their website has informed that the Costing Taxonomy 2019 which will cater to the annual filing of CRA-4 (Cost and Audit Report) for the financial year 2018-19 is under development.
KEY HIGHLIGHTS:
- The companies will mandatorily have to use Costing Taxonomy 2019 to file their CRA-4 (Cost and Audit Report) for the financial year 2018-19.
- Companies which have already filed their CRA-4 (Cost Audit Report) using the Costing Taxonomy 2015 for FY 2018-19 will not be required to file afresh.
- Companies which are yet to file their CRA-4 should wait for the deployment of Costing Taxonomy 2019 on the MCA21 portal.
- Further, after the deployment of the Costing Taxonomy, 2019, Companies will be given sufficient time to file their CRA-4 without any additional fees.
The MCA has requested stakeholders to keep the above in mind and plan accordingly.
Source: Ministry of Corporate Affairs
