XBRL and the Government Sector in India
XBRL per se is not new to the Government sector in India. The Ministry of Finance and the Ministry of Corporate Affairs (MCA) have been the front runners in usage of XBRL in India. E-filing of income tax returns is in XML which is the language used for XBRL. Filing of returns to RBI by Indian banks is progressively shifting to this mode. The MCA has introduced XBRL for filing of annual financial statements by companies.
This article was published in "The Chartered Accountant" i.e. Monthly magazine of ICAI.
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