XBRL Conversion – Accurate Conversion, Compliant Reporting
What is XBRL Conversion?
XBRL Conversion (eXtensible Business Reporting Language) is the process of converting your financial statements and other business reports into a digital format that can be filed with regulatory authorities such as the Ministry of Corporate Affairs (MCA). This happens by mapping data to an XBRL taxonomy. This creates a machine-readable XBRL instance document for regulatory filing or data exchange.
GST Suvidha Centre has extensive experience in providing professional XBRL Conversion in India. We help corporates get their financial statements prepared in the XBRL format as per MCA guidelines using specialized software and file them.
Why is XBRL conversion necessary?
XBRL Conversion ensures the standardisation and machine readability of your financial reports as well as compliance with the Government’s requirements. It can help:
- Mandatory Regulatory Compliance
- Reduce the complexity of financial reporting
- Reduce filing errors
- Increase accuracy and transparency
- Reduce time in filing compliance
- Faster Processing by Authorities
- Better Data Integrity
- Reduces Manual Errors
- Helps in better decision-making
Not filing in the necessary format of XBRL may result in problems with the penalty or delay the company’s compliance. GST Suvidha Centre makes sure we do all conversions accurately and on time.
What kind of companies require XBRL Conversion?
According to MCA guidelines, the companies that must file in eform AOC-4 XBRL are:
- All listed companies and their subsidiaries,
- Companies having paid-up capital of ₹5 crore or more,
- Companies having turnover of ₹100 crore or more,
- Companies required to prepare their financial statements as per Ind AS
However, the following companies are exempt from filing financial statements IN XBRL Format:
- Non-banking financial companies
- Housing finance companies
- Companies involved in the insurance business and banking sector
Once a company, filed their financial statements in XBRL Format, needs to continue filing itm even if they ceases to meet the above mentioned criterias.
Also, the companies who are subject to cost audit, also needs to file their Cost Audit Report (CAR) and Compliance Report (CR) in XBRL format.
If your company falls under any of the above, GST Suvidha Centre would be glad to assist you with a complete XBRL Conversion and filing.
What is the process of the XBRL Conversion?
The following procedure is followed for converting the Financial Statements into XBRL Format
Step 1: Collection of Financial Statements
Step 2: Identification of Applicable XBRL Taxonomy
Step 3: XBRL Tagging
Step 4: Validation & Error Check
Step 5: Generation of XBRL Instance Document
Step 6: Filing with MCA or the applicable authority
What documents are required for the XBRL Conversion?
The following documents are generally required for the conversion:
- Audited Financial Statements
- Boards’ report, audit report and annual report
- Details of Related Party Transactions
- Cost Audit Report
- Consolidated financial statements
- Statement of subsidiaries
- Details of comments of CAG of India
- Previous Year XBRL Instance Document
It is easy to get a Secratarial Audit by CS Online; it can be done through the GST Suvidha Centre. The process is digitised, and you can share all the information securely through our online portal.
What is the process to apply online for the conversion?
As part of this service, we provide the following:
- Cost Audit Report / Financial Audit Report will be converted to XBRL Instance Document
Process to Avail the Service:
- Book a Consultation (Optional)
Visit our website to schedule a free consultation call if you require guidance before proceeding. - Select and Add the Service to Cart
Choose the XBRL Conversion service and add it to your cart. You may opt to proceed directly without a consultation. - Upload Required Documents and Complete Payment
Securely upload all necessary documents on our portal and finalise the process by making the payment. - Back-End Processing by Our Team
Our team will carry out all required procedures and formalities using the documents you have provided. - Completion and Document Handover
Upon completion, the Final Instance document will be delivered after confirmation of the correctness of the draft PDF version of the Instance documents by the client
Can I get XBRL conversion online?
Yes. You can easily get XBRL Conversion Online through GST Suvidha Centre. We have a streamlined process. Our experts will collect your company’s financial statements (Balance Sheet, Profit & Loss Account, Notes to Accounts, and Auditor’s report) in a secured manner and then convert it into the XBRL format compliant with MCA directive and reporting.
Once the conversion is complete, we verify and validate the data using MCA validation tools prior to the submission process. This Online service is convenient, secure, and provides services to any company anywhere in India.
Is the XBRL Conversion service available near me?
If you are looking for an XBRL Conversion service near you, you can look no further than GST Suvidha Centre. We have branches in Bilaspur, Raipur and many other cities in Chhattisgarh to provide online and offline filing support, and our online support is available all over India. Our local trained experts are knowledgeable in MCA taxonomy, ensuring your company’s XBRL Conversion is completed correctly and submitted timely.
How much will it cost for the XBRL Conversion?
The charge for converting the Annual Report is ₹ 15,000 (exclusive of GST). In case of conversion of a cost audit report, the charge will depend upon the CTA heading.
Why choose GST Suvidha Centre for your XBRL Conversion?
- Experienced CAs, CMAs and CS team
- 100% conformance with MCA norms
- Cost effective and quick turnaround time
- Secure and confidential maintenance of data
- PAN India online filing support
We are known for XBRL Conversion in Bilaspur and across Chhattisgarh and India, for many years, assisting hundreds of companies every year with accurate and hassle-free filing.
Frequently Asked Question:
Q1. Why is XBRL Conversion required?
A. XBRL filing is mandatory for certain companies under MCA regulations to ensure standardized, transparent, and machine-readable financial reporting.
Q2. Will XBRL Conversion be totally online?
A. Yes. GST Suvidha Centre provides complete XBRL Conversion Online.
Q3. How long will it take for XBRL Conversion?
A. Generally, it takes 2–3 working days after receiving the required documents.
Q4. Who reviews the XBRL report before it is submitted?
A. Our experts check the file with the MCA XBRL validation tool before uploading.
Q5. If a company does not file in XBRL format, what are the consequences?
A. If the company does not comply, it may get penalties under the Companies Act.
Whether you need XBRL Conversion in Chhattisgarh or anywhere in India, GST Suvidha Centre offers reliable, quick, and affordable services. Visit your nearest branch in Bilaspur or Chhattisgarh, or apply Online to ensure your company’s XBRL filing is accurate, compliant, and submitted on time.
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