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Applicability of cost audit and cost compliance

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2014 Dear Professional Collegue,
I am working with a Pvt Ltd (Not listed) company having Capital of Rs. 49 cr. & turnover of Rs. 7 Cr for the F.Y. 2013-14. Please let me know whether for F.Y. 2014-15 filling of Cost Audit Required or Cost Compliance Report is sufficient.

AVINASH GUPTA

AVINASH GUPTA (Expert)
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27 June 2014 cost audit applicable for your industry

CA Nilesh P. Kanodia

CA Nilesh P. Kanodia (Expert)
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06 January 2015 Dear Avinash ji,

As per new Circular Dated 31st Dec, 2014 only Cost Audit is applicable but i come to know from our cost auditor that government is in planning to amend the rules that will take few months.

so as of today its not applicable but in near future it will.

Kindly refer the below link:
https://www.mca.gov.in/Ministry/pdf/Amendment_Rules_01012014.pdf

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