Relaxation of Additional fees and extension of last date of filing CRA-4 for financial Year 2019-20.

Please find the attached Circular the brief summary of the notification is mentioned below:

1 Notification/ Circular  date  10/09/2020
2 Subject Relaxation of Additional fees and extension of last date of filing CRA-4 for financial Year 2019-20.
3 Effective date   10/09/2020
4 Applicability Companies to which Cost Audit Applicable (Kindly refer this http://ebook.mca.gov.in/Default.aspx?page=main )
5 Brief description Law requirement-

•cost auditor shall forward his duly signed report to the Board of Directors of the company within a period of  180 days from the closure of the financial year to which the report relates and the Board of Directors shall consider and examine such report, particularly any reservation or qualification contained therein

•company shall, within a period of 30 days from the date of receipt of a copy of the cost audit report, furnish the Central Government with such report along with full information and explanation on every reservation or qualification contained therein, in  *#Form CRA-4 in XBRL format

•Provided that the Companies which have got extension of time of holding Annual General Meeting under section 96 (1) of the Companies Act, 2013, may file form CRA-4 within resultant extended period of filing financial statements under section 137 of the Companies Act, 2013

Due to Extension order:-

Cost Audit report by Auditor to company-30th Nov 2020

Filing of same by company to CG in CRA-4 -30th Dec 2020

However if Extension for AGM availed then –it could be filed within 30 days of extended AGM period.

For e.g via extension AGM due date is 30th December 2020 CRA-4 needs to be filed by 30th January 2021

6 Impact Relaxation of Additional fees and extension of last date of filing CRA-4 for financial Year 2019-20. is Welcome move during prevailing pandemic