MCA extends deadline for submission of cost audition report till Nov

In a major relief for corporates, the Centre has extended the deadline for the submission of cost auditing reports by companies for FY 2019-20 till November 30.

In a circular, the Ministry of Corporate Affairs (MCA) said that the decision has been taken in the wake of the pandemic.

"In view of the extraordinary disruption caused due to the pandemic, it has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by November 30, 2020 then the same would not be viewed as violation of rule 6(5) of Companies (cost records and audit) Rules, 2014," it said.

Consequently, the cost audit report for the FY 2019-20 shall be filed in e-form CRA-4 within 30 days from the date of receipt of the copy ofthe cost audit report by the company, the circular issued on Thursday said.

However, 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 provided under the provision of rule 6(6) of the Companies (cost records and audit) Rules, 2014..