Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies for which the XBRL Taxonomies for Commercial and Industrial Sector- AS and Ind AS Based are already in place.

The same have been amended/ updated in view of the followings in order to update the same for the FY 2021-22 for financial reporting purposes:

• Amendments in Schedule III
• Amendments in Companies (Auditor’s Report) Order
• Amendments in AS/IND AS
• Other General improvements

The Exposure Drafts of said amendments in AS Taxonomy and Ind AS Taxonomy have been finalised recently by the Taxonomy Development and Review Committee of XBRL India. XBRL India, ICAI, with the aim to provide an opportunity to the various stakeholders to raise their concerns at the Exposure draft stage itself so that these concerns are appropriately addressed, invites comments on the Exposure drafts issued by it.

Please click on given below links for Exposure Drafts of the Taxonomies:

Ind AS Taxonomy:

• Complete Ind AS Taxonomy
• Change Document of Ind AS Taxonomy

AS Taxonomy:

• Complete AS Taxonomy
• Change Document of AS Taxonomy

The comments are invited on any aspects of the Exposure Draft. Comments are most helpful if it indicate proper reference to which it relate, contain a clear rationale and, where possible, provide a suggestion for alternative change. In addition to the comments on amendments in the Taxonomy, other suggestions for any inclusion/deletion of any element are also invited for overall improvement of the Taxonomy or any area where any difficulty is faced by the Companies while filing.

How to comment:

Comments should be submitted using one of the following methods, so as to be received by January15, 2022

1. Email: Comments can be sent at xbrl@icai.in
2. Postal: CA. S.N.Gupta, Joint Director, Technical Directorate, XBRL India, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002