Cost audit of partnership firms

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2013 Dear All,

Can any one tell me whether a partnership firm (not an LLP) who is engaged in manufacturing process is required to get its cost records audited or not.

If yes, then under what circumstances.

Please guide.

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 December 2013 i believe cost audit applies only to companies.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2013 But if this manufacturing concern has a annual turnover more than 250 crore then.

somebody has says to me that according to rules cost audit is determined by turnover

I am very confused.

Please guide me.

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 December 2013 I am not cost auditor. But I am unable to find any reference to applicability of cost audit to anyone except for companies.

Let see if any other expert has any comment on this.

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