03 August 2011
Dear Experts: If any company falling in cost audit records rules as per new notification issued in may 2011 fist time a) in this case can company will receive the cost audit order letter from central govt or not ?
b)either company have to wait for cost audit letter from the central govt.?
pls clear the my confusion on this , what are the rules applicable .
1. The company will not receive any cost audit order under the new notification.
2. All companies that are subject to cost audit as per the new notification will have to file suo moto Form 23C within 90 days. If no querry has been raised by the department within 30 days of filing of the form, it is deemed that the appointment of Cost Auditor is confirmed.
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