which are the sections to referred for cost audit purpose
This query is : Resolved
19 March 2008
i like to know is it necessary to have cost audit every year..
is there any exemption for non conducting of cost audit.
which are the section i should refer for a detailed knowledge
is there any exemption for non conducting of cost audit.
which are the section i should refer for a detailed knowledge
19 March 2008
there is no provision in income tax act in excise ther is provision you will log on cbec site
19 March 2008
SEC 233B OF COS.ACT refers to cost audit.
209(1)(d) refers to cost records to be maintained by a company.
THERE IS NO EXEMPTION FROM COST AUDIT ONCE DECLARED BY GOVT. FOR A PARTICULAR INDUSTRY OR A COMPANY.
YOU HAVE TO SPECIFICALLY SEEK EXEMPTION BY PLEADING WITH THE MINISTRY OF COMPANY AFFAIRS AS TO WHY YOU COULD NOT COMPLY WITH COST AUDIT FOR THAT PARTICULAR YEAR.
every year the central govt. by order declares for what companies the cost audit to be conducted.every such notification is published in official gazette .
companies also get an order from the ministry of company affairs to get the cost audit done.
such details can also be found in icwai website or the monistry website.
R.V.RAO
209(1)(d) refers to cost records to be maintained by a company.
THERE IS NO EXEMPTION FROM COST AUDIT ONCE DECLARED BY GOVT. FOR A PARTICULAR INDUSTRY OR A COMPANY.
YOU HAVE TO SPECIFICALLY SEEK EXEMPTION BY PLEADING WITH THE MINISTRY OF COMPANY AFFAIRS AS TO WHY YOU COULD NOT COMPLY WITH COST AUDIT FOR THAT PARTICULAR YEAR.
every year the central govt. by order declares for what companies the cost audit to be conducted.every such notification is published in official gazette .
companies also get an order from the ministry of company affairs to get the cost audit done.
such details can also be found in icwai website or the monistry website.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
