07 December 2016 Thanks For Replying Sir,

Actually

The Company in which I work has not finalized accounts of FY 15-16 till date.i.e statutory audit has not been done too. Therefore Cost Audit is not done yet. I am more concerned about fee for late filing of Cost Audit report with MCA rather than Revision of Cost Audit Report.

CMA Satish Kumar Gupta

CMA Satish Kumar Gupta (Expert)

07 December 2016 So, you want file cost audit report as per provisional balance sheet and you will file revised report when balance sheet will be finalised. may I know Product of the company. have you appointed Cost Auditor?

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pratik upadhyay

pratik upadhyay (Querist)

07 December 2016 Sir,

My Company is steel manufacturing concern. We make Steel Billets/ingots and TMT Bars.

Yes we were thinking about finaling cost audit report on basis of provisional balance and then revise later after finalisation of accounts.

CMA Satish Kumar Gupta

CMA Satish Kumar Gupta (Expert)

07 December 2016 Ok. Pratik ji.
Practically, Cost Audit Report can not be file revised. As far as penalty concern, company can get show cause notice from MCA and filing fee will be extend by upto 10 times.
Also Your cost auditor may get show cause notice for the same. Then your cost auditor will ask you for report and he may give negative reply to MCA from company point of view.

I suggest company should file the report within next 2 months.

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pratik upadhyay

pratik upadhyay (Querist)

07 December 2016 Ok sir , thanks for your time

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