10 January 2017
For any company to fall under the requirement of Cost Audit following two tests shall apply:
a. Coverage under Table – A and / or Table – B.
Company’s product / services shall fall under one or more categories given under Table A and / or Table B. AND the respective Central Excise Tariff Act (CETA) headings (wherever applicable).
b. Turnover:
(i) If the products or services of the company falls under Table A – Regulated sectors:
Overall annual turnover from all products and /or services is Rs. 50 crore or more AND aggregate turnover from individual product or services for which cost records are required to be maintained is Rs. 25 crore or more, during the immediately preceding financial year;
(ii) If the products or services of the company falls under Table B – Non-regulated Sectors:Overall annual turnover from all products and / or services is Rs. 100 crore or more AND aggregate turnover from individual product or services for which cost records are required to be maintained is Rs. 35 crore or more, during the immediately preceding financial year. Go to the link below;
CAclubindia
