Cost records and cost audit

21 August 2019
Hello All,

I have a query.
Our company is engaged in the manufacturing of Telecom Equipments. As per cost record rules and the proviso to rule 3 under the Companies Act, 2013, if a company falls under the classification definition of Small Enterprise as per MSME act, then Maintenance of Cost Records is not required. Our company falls under this exemption criteria as our investment in Plant and machinery is less than Rs. 5 Crores but more than 25 lakhs, although we dont have MSME registration or Udyog Aadhaar Registration.
Considering the said exemption is the maintenance of cost records and cost audit applicable to us. ?

Dhananjay Jitesh Pandey
Company Secretary

CMA Satish Kumar Gupta (Expert)
22 August 2019
Sir, Let me know previous year Turnover.

dhananjay (Querist)
26 August 2019
Hello Satish Ji,

Previous year T/o is Rs. 300 Crores .

CMA Satish Kumar Gupta (Expert)
02 September 2019
Cost Audit is applicable on your company...

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