Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies. XBRL taxonomy covers the requirements of Accounting Standards, Companies Act and MCA specific requirements. XBRL taxonomy, based on the Indian Accounting Standards (Ind AS) and Ind AS compliant Schedule III requirements has already been notified for filing of financial statements in XBRL format and the specified class of companies are successfully filing their financial statements in XBRL format.

In view of implementation of Ind AS 115, ‘Revenue from contracts with customers’ and withdrawal of Ind AS 11 & Ind AS 18 for the financial year 2018-19, amendments in other Ind ASs, inclusion of few MCA specific requirements to meet corporate governance reporting requirements etc, Ind AS XBRL taxonomy has been amended for financial reporting purposes. In order to endorse transparency, objectivity, independence and participation of Stakeholders, the draft amendments in Ind AS taxonomy have been exposed for public comments. The Exposure draft of amendments in Ind AS Taxonomy are in Excel Sheet. The Presentation Link of Excel Sheet covers the ELRs in which amendments (as highlighted) are made due to aforesaid pronouncements. The other links (Reference link, Element master, Label, Calculation Link and Definition link) covers all the elements of taxonomy including amended elements.

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.

How to comment

Comments should be submitted using one of the following methods, so as to receive by December 30, 2018.

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