Cost audit
This query is : Resolved
Rishi Vyas
(Querist)
12 June 2012
Is cost audit mandatory for companies which are yet in their project stage and have not started production?
Regards,
Rishi
Regards,
Rishi
CA Hardik Bunha
(Expert)
12 June 2012
cost audit is applicable to all companies.
yes, if company is not starting its production still provision is applicable.
statutory auditor also have to check cost records.
yes, if company is not starting its production still provision is applicable.
statutory auditor also have to check cost records.
Rishi Vyas
(Querist)
14 June 2012
Thanks Hardik. Could you please support your view with some authentic material like any clarificatory circular, case ruling or an extract from any commentary?
Regards,
Rishi
Regards,
Rishi
Rishi Vyas
(Querist)
14 June 2012
Thanks Hardik. Could you please support your view with some authentic material like any clarificatory circular, case ruling or an extract from any commentary?
Regards,
Rishi
Regards,
Rishi
CA Hardik Bunha
(Expert)
20 June 2012
ok my friend,
when central government make order u/s 233A then cost audit is compulsary.
sometimes management may order for cost audit.
sometimes cost audit is carried out for govermnet for SUBSIDY OR GRANT( genuineness of transaction)
cost audti by trade association when continuous decrease price of same trade.
when central government make order u/s 233A then cost audit is compulsary.
sometimes management may order for cost audit.
sometimes cost audit is carried out for govermnet for SUBSIDY OR GRANT( genuineness of transaction)
cost audti by trade association when continuous decrease price of same trade.
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CA Hardik Bunha
(Expert)
20 June 2012
sorry section 233B not A
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