Notices issued for Non-Maintenance of Cost Records u/s 148 of Companies Act

CMA Navneet Kr Jain | Last updated: 20 March 2023

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The Ministry of Corporate Affairs (MCA) is now issuing notices for the non-maintenance of cost records, a shift from previous focuses like non-filing of reports. This is enabled by technological advancements allowing easier tracking of compliances. Companies that fall under the ambit of Section 148 of the Companies Act, 2013, must ensure cost records are maintained as prescribed, or face potential penalties. It's crucial for businesses to proactively review their compliance to avoid future complications.

Technology upgradation in the government departments has its positive impacts primarily for the supervision purposes. It becomes very easy for the officers to identify the non-compliances and take action so that the provisions of various acts are complied with in letter and spirit. Many a times,

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About the Author

CMA Navneet Kr Jain

cost consulting

Cost And Management Consultant, Conducted National and International Assignments Ex-Consultant World Health Oganisation Visiting Faculty with CAG, NIRC-ICWA, Deptt of Excise and Service Tax, AGCR Firstever Costing in India at WHO level in respect of Standard Treatment Guidelines E

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