Hi,
I want to understand the applicabiltiy of recent Cost Audit Orders issued.
DOes any of the orders hold applicabiltiy on Vegetable Seeds- The company deals in R&D, Production, Processing and Sale of Vegetable Seeds.
The only industry which i feel we could get close to is Plantation (no. 41) And rule applicability 685 (E)
Dear Vikram,
Check if the company is covered under Chapter 6 or 12 of Central Excise Tariff Act (CETA) headings.
As per the MCA order dated 3rd June 2011, point 2 of Defination and Interpretations has section 'o' on "production activity" which stated that ".....growing a product for use, consumption, sale, transport, delivery or disposal....."
I think if the turnover / networth / listing criteria are crossed, then this company would need compliance certification or cost audit, as the case may be.
CCI
Pro
CAclubindia
