Are you yet to file your Cost Audit report for FY 2019-2020?

Covid-19 pandemic has presented businesses with extraordinary scenarios and challenges in keeping up with compliance requirements this year.

Various stakeholders had put forth representations to MCA requesting extension of filing deadline for filing of Cost Audit Report for the financial year 2019-20.

Is the cost Audit report overdue for FY 2019-2020?

Considering these requests, the Ministry of Corporate Affairs (MCA) released a General Circular (29/2020) dated September 10, 2020 announcing relaxation of additional fees and extension of filing date for e-form CRA-4 under the Companies Act, 2013.

The circular also notifies that if a cost audit report, submitted by cost auditor to the Board of Directors of a company is submitted to MCA by 30th November 2020, then it shall not be considered a violation of rule 6(5) of Companies (Cost Record and Audit) Rules, 2014.

While the cost audit report for the financial year which ended on 31st March, 2020 should be filed within 30 days from the date of receipt by the company , in case a company has availed extension of time for holding Annual General Meeting then e-form CRA-4 may be filed within the timeline provisions as per rule 6(6) of the Companies (Cost Records and Audit) Rules, 2014.

About Datatracks:

We at Datatracks also understand the tough times companies are going through, so we are working to ensure our services are as helpful and competitive as ever.

If you have AOC-4 or CRA-4 XBRL requirements, engaging DataTracks is a smart choice.

If you have any queries or would like to talk to a member of our team, please write to us on or contact us on +91 44 4208 1719

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