Cost accounting records

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CA Sanjay Baheti (Querist)
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08 June 2013 My client being a Pvt Ltd Co.engaged in Manufacturing of Metal based Products i.e.Copper/Nickel Ferro Alloys Billets.Total Turnover is Rs.229.39 Lacs during the F.Y.2012-13.

Now query is whether Maintenance of Cost Accounting Records has prescribed by the Central Government for the said Industry & Product as per section 209(1)(d) of the Companies Act.this is required for CARO Reporting in Auditors Report.

Please reply earliest.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 June 2013 Yes. you case is Costing records will apply

CA Sanjay Baheti

CA Sanjay Baheti (Querist)
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15 June 2013 Thanks for reply.But i think for the purposes of applicability of such rules the turnover limit is exceeding Rs.50 crores during the year under review & also the Co. should be listed one.is it correct or not.Please confirm with elaborate explanation.

Regards

CA SANJAY BAHETI

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 June 2013 Whether you are asking applicability of costing records or Cost audit?

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