Companies(cost records and audit) rules, 2014 applicability

Sivasailam D (Practicing Company Secretary)   (48 Points)

13 May 2016  

Ours is a Pvt Ltd  Company having a turnover of more than Rs100 crores which includes production & sale of silk sarees worth Rs.8 crores (which is not Excisable item) for the FY 2014-15. Is this Company required to appoint the Cost Auditor as per Companies(Cost Records & Audit) Rules 2014 for the FY 2015=16.  Can you pl reply with proper reasoning ?