Appointment of cost auditor

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Rishabh Raj Chauhan (Querist)

10 July 2017 Dear all, when the cost auditor should be appointed for the financial year 2016-17?
Our company appointed a cost auditor on 12th june 2017 for the F.Y 2016-17 and now the late fees showing is 7200.
why the late fees is showing if we are filing CRA-2 within 30 days of appointment.
please reply if anyone is aware of this scenario.
An early reply shall be appreciated.

Message likes : 1 times

Jitendra Joshi

Jitendra Joshi (Expert)

11 July 2017 Sir,

The companies required to get its cost records audited, shall within 180 days of the commencement of every financial year, appoint a cost auditor. In your case the last date for appointment of Cost Auditor for FY 2016- 17 was 30.09.2016, which means you are late in appointment. Thus late fees.

Jitendra Joshi,
Practicing Cost Accountant

Rishabh Raj Chauhan

Rishabh Raj Chauhan (Querist)

11 July 2017 Thank you very much sir.

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