Cost record and audit for construction company

Section 148 of Companies Act 2013 read with rule 3 of Companies (cost records and audit) rules 2014 as amended on 31st Dec 2014:
a. regulated sectors - 6 sectors covered.
b. non - regulated sectors - 5 sectors covered.
Only they are required to maintain cost records and conduct cost audit, subject to the limits of turnover prescribed in this rule.

Other sectors or industries not required to maintain cost records and conduct cost audit.

1. If Pvt Ltd Co. as contractors, not covered under above section and rule not required to maintain cost records and conduct cost audit.

Please refer section and rules for detailed information.

construction companies are required to maintain cost records and conduct cost audit if it crossed its