Cost audit

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faiyyaj (Querist)

30 October 2013 Can anybody send me Compulsory COST AUDIT notification plz???? What is the minimum Turnover required for the company to b eligible for Cost Audit??

CS Premjith

CS Premjith (Expert)

30 October 2013 MCA vide its order dated 30 June 2011 has made it mandatory to get the cost accounting records in respect of each financial year commencing on or after 01 April 2011, audited by a Cost Accountant/Firm holding a valid certificate of practice.

The order is applicable to the following industries ONLY:

1. Cement
2. Tyres & Tubes
3. Steel
4. Paper
5. Insecticides
6. Glass
7. Paints and varnishes
8. Aluminum

Further any of the following conditions are ALSO to be satisfied:

I. the aggregate value of the turnover made by the company from sale or supply of all the products or activities during the immediately preceding financial year exceeds Rs 100 Crs or
II. the company’s equity or debt securities are listed or are in the process of listing on any stock exchange

you may plz refer other circulars passed in this respect in MCA website.

faiyyaj

faiyyaj (Querist)

30 October 2013 ok Thank You sir.

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