Cost audit
This query is : Resolved
19 March 2015
A pvt. ltd. company having turnover as below :-
F.Y. Turnover
2012-13 67.00 Cr.
2013-14 116.00 Cr.
2014-15 135.00 Cr.
We cover under SSI unit (Value of Plant & Mac. below 2 Cr.)
Should we get Cost audit from Cost Accountants. If we have to, from which financial year? Any other compliance in respect of the same.
Please advise.
F.Y. Turnover
2012-13 67.00 Cr.
2013-14 116.00 Cr.
2014-15 135.00 Cr.
We cover under SSI unit (Value of Plant & Mac. below 2 Cr.)
Should we get Cost audit from Cost Accountants. If we have to, from which financial year? Any other compliance in respect of the same.
Please advise.
22 March 2015
Dear Mr. Rakesh,
To determine applicability of Cost Audit to a company there are three criteria to check about.
a)- Whether the company is listed in capital market?
b)- Net worth of the company.
c)- Turnover of the company.
Turnover and net worth slabs vary depending upon the nature of goods produced.
Thus you need to provide Excise chapter heading wise turnover for each year to determine the applicability of Cost Audit to your company.
To determine applicability of Cost Audit to a company there are three criteria to check about.
a)- Whether the company is listed in capital market?
b)- Net worth of the company.
c)- Turnover of the company.
Turnover and net worth slabs vary depending upon the nature of goods produced.
Thus you need to provide Excise chapter heading wise turnover for each year to determine the applicability of Cost Audit to your company.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Non-Compliance documents have not been submitted by the contractors debited
- Invertaded duty struture
- FCRA 6 E- Intimation
- GST Rate for Catering Services
- EXPORT COMMERCIAL INVOICE HSN CODE
- Same demand raised for original as well as rectification request return
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
