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
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
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
