Frequently Asked Questions - Gen XBRL Software

FAQs - Gen XBRL Software

Answer: XBRL is an abbreviation for "Extensible Business Reporting Language". Based on XML language and related syntaxes, XBRL is an internationally standardized language to exchange business data.

Companies (filing of documents and forms in Extensible Business Reporting Language) Rules, 2011 notified vide GSR No. 748E dated 5/10/2011 marked the beginning of XBRL for companies in India.

The rule demands certain companies to file their Profit & Loss Account, Balance Sheet and other reports & documents in XBRL u/s 134 of the Companies Act, 1956 and u/s 137 of the Companies Act, 2013 with the Registrar of Companies (ROC) for each fiscal year completed on 31st March 2011 and afterwards.

Currently, the rule applies to the following companies:

  • Companies and their Indian subsidiaries, which are listed with any Stock Exchange(s) in India
  • Companies with paid-up capital of INR 500,00,000 (Five crores) and more
  • Companies with turnover of INR 100,00,000 (Hundred crore) and more
  • Companies which need to file their financial statements for FY 2010-11 in XBRL.

The rule does not apply to the following companies until further orders are issued:

  • Power companies
  • Insurance companies
  • Banking companies
  • Non-Banking Financial Companies (NBFCs)

Answer: Yes, Gen-XBRL software can recreate the final accounts using XML file generated and filed from any other XBRL software.

Gen-XBRL software comes with a vice-versa function i.e it imports the XML file created by any XBRL software, checks the financial data following taxonomy and recreates the final accounts.

Answer: Gen-XBRL Software allows unlimited return filing. Irrespective of numbers, the user can file as many returns as he needs to.

Answer: Yes, the PDF file can be created to check the additional requirements even when there is an error in XML validation or pre-scrutiny.

Answer: No, the users of Gen-XBRL software do not need MCA Validation tool separately because the software with an in-built feature to check Validation and Pre-scrutiny error.

Answer: Yes, both standalone and consolidated instance documents can be created using Gen XBRL software in the following way:

Category Standalone Consolidated(if they have subsidiary/holding companies)
All Companies with paid up capital INR 500,00,000 (Five crore) or more. Yes Yes
All companies with a turnover of INR 100,00,00,000 (Hundred crore) or more. Yes Yes
All companies, & their Indian subsidiaries, listed with any Stock Exchange(s) in India Yes Yes
Indian Subsidiaries (or) Holding Companies of Listed Companies. Yes Yes, when they have been preparing consolidated accounts previously.
Any other Indian company, Indian Subsidiary (or) Holding company of Un-listed companies which does not fall under the above-mentioned categories Normal filling. Normal filling.

Answer: Yes, the software provides Footnotes option to quote any additional detail about the elements and amount.

Answer: Yes, this software allows users to copy-paste their non-financial data like Auditor’s Report, Directors Responsibility statement/Report, Management analysis and Discussion Report (MADR), Notes to accounts and so on.

Answer: Step by step procedure to perform XBRL in company Law software:

  • Step 1: Storing complete financial details along with all appropriate notes & disclosures in the Gen XBRL Software.
  • Step 2: Converting the data into XML file format using Gen XBRL software or Gen Comp Law Software with the help of our company’s experts.
  • Step 3: Validation, pre-scrutinizing and PDF generation within Gen XBRL Software with a single click.
  • Step 4: Generation of the document, containing Balance Sheet and Profit & Loss Account, prepare for filing XBRL e-forms – AOC-4 XBRL, 23AC-XBRL and 23ACA-XBRL as the case may be.

Answer: No, the existing E-Form AOC-4/AOC-4 CFS and E-form 23AC and e-form 23ACA can not be used for filing XML instance of Balance sheet and Statement of Profit & Loss as the MCA portal can be accessed for the E-forms AOC-4 XBRL, 23AC-XBRL and 23ACA-XBRL. With Complaw with XBRL software, the user can have the same e-forms pre-filled generated.

Answer: Yes, the data of numerous companies can be integrated with this software.

Answer: Yes, it is a very important step for the user to validate the instance document (XML File) before uploading it on the MCA portal. It can be done by using a Validation tool available on the MCA XBRL portal ( to validate the generated XBRL instance document or by using the validation tool embedded in our software for validation & pre-scrutiny.

Answer: The user can rectify the Validation Errors by pressing shortcut key F4 on the homepage. Double click on the errors will take the users to the concerned page where the error is present.

Answer: Yes, the data can be imported from the previous year as well as a present year in XML.

Answer: Balance sheet and Profit & Loss A/C can be filled automatically after filing notes and clicking on the auto-fill option. User can fill them manually as well.

Answer: Yes, the data can be imported directly if you have filed the returns and documents using our software in the previous year. If not this is the case, then there is also an option with which you can import data from Genius Software.

Answer: Yes, with the Find option in the Gen XBRL software, the user can give the conditions and find only those fields which can be filled by date, amount and percentage.

Answer: Yes, the software has Console and Dragging facility which allows the users to open the excel format file in the software. The screen will be divided into two, one part will showcase the software while on the other part, file in excel format will run. The data can be imported into the software simply by dragging.

Answer: Yes, Gen XBRL provides this option where one can easily copy data from last year to current year and vice-versa in a single click.

Answer: Gen-XBRL software automatically shows the mandatory fields in RED colour.

Cost Audit Report in XBRL

Answer: Ministry of Corporate Affairs has made it mandatory to file the Cost Audit Report and Compliance Report from the fiscal year 2011-12 onwards (including overdue reports related to any previous year) using the XBRL taxonomy vide General Circular No. 8/2012 dated 10.5.2012 [as amended on 29.6.2012] and No. 18/2012 dated 26.7.2012.

Companies that meet the threshold limits prescribed in the appropriate Cost Accounting Records Rules 2011 must file a Compliance Report in the XBRL mode.

Answer: All the companies which are not covered under the company-specific Cost Audit Orders issued before 31.3.2011 and/or under the industry-specific Cost Audit Order No. 52/26/CAB-2010 dated 2nd May 2011, 30th June 2011 and 24th January 2012 are absolved from filing Cost Audit Report.

Answer: The Ministry of Corporate Affairs issued Cost audit orders which states the the time-frame for which an individual’s income is considered for Income tax. These are as follows:

Date of order Industries Covered Broadly Applicability –Conditions Year for which applicable
2nd May 2011 1) Cost Accounting Records (Bulk Drugs) Rules, 1974
2) Cost Accounting Records (Fortmulations) Rules, 1988
3) Cost Accounting Records (Fertilizers) Rules, 1993
4) Cost Accounting Records (Sugar) Rules, 1997
5) Cost Accounting Records (Industrial Alchohal) Rules, 1997
6) Cost Accounting Records (Electricity Industry) Rules, 2001
7) Cost Accounting Records (Petroleum Industry) Rules, 2002
8) Cost Accounting Records (Telecommunications) Rules, 2002
(a)Aggregate Value of networth as on the last day of immediately preceding financial year year exceeds Rs. 5 Crores, or
(b) wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds twenty crores of rupees; or
(c) wherein the company's equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India
3rd May 2011 The order was modified vide order dated 30/06/2011. - -
  • The Order as on 30/06/2011 explains following Category:
Date of order Product/Industry under Cost Audit HSN Classification/Central Excise Tariff Act Applicability -Conditions Year for which applicable
30 June 2011 Cement
Tyres and Tubes
Paints and varnishes
Chapter 25, 38 and 68
Chapter 40
Chapter 72 and 73
Chapter 47 and 48
Chapter 38
Chapter 70
Chapter 32
Chapter 25
a)Companies having turnover exceeding Rs 100 crores in the immediately preceding financial year b) Companies whose equity or debt securities are listed or are in the process of listing 2011-2012
  • The Order as on 24th January 2012 explains following Category:
Date of order Name of Industry Relevant Chapter Heading of the Central Excise Tariff Act 1985 Applicability -Conditions Year for which applicable
24th January 2012 Jute, Cotton, silk, woolen, or blended fibres / textiles

Edible Oil seeds and Oils (incl. Vanaspati)

Packaged Food Products

Organic and Inorganic Chemicals

Coal & lignite
Mining & metallurgy of ferrous and no ferrous metals

Tractors & other motor vehicles (incl. automotive components)

Plantation Products

Engineering machinery (incl. electrical & electronic products)
Chapter 50 to 63

Chapter 12 and 15

Chapter 2 to 25 (except chapters 5,6,14,23 and24)

Chapter 28, 29, 32, 38 and 39

Chapter 27

Chapters 26 and 74 to 83 (except Chapters 76 and 77)
Chapter 84, 85 and 87

Chapter 8, 9, 21 and 40

Chapters 84 and 85
a)Companies having turnover exceeding Rs. 100 crores in the immediately preceding financial year
b) Companies whose equity or debt securities are listed or are in the process of listing.

Answer: In both case as mentioned below, cost audit shall be applicable on the compnay.

  • (A). Regulator Sectors : Overall annual turnover during immediately preceding financial year greater than or equal to Rs 50 Crore and aggregate turnover of the individual product or products or service or services greater than or equal to Rs 25 Crores.
  • (B). Non-regulatory Sectors: Overall annual turnover during immediately preceding financial year greater than or equal to Rs 100 Crore and aggregate turnover of the individual product or products or service or services greater than or equal to Rs 35 Crores.