Applicability of cost audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2013
Dear sir,
We are engaged in production of CI/ DI Castings including brake drum used by Tata motors for there automobiles(under subheading (87 of Excise) our turnover of FY 2011-12 Was Rs. 205 Crores.
My query is that weather cost audit is mandatory for us or not.
if mandatory in what ground.
kindly give me suggestions on this...
We are engaged in production of CI/ DI Castings including brake drum used by Tata motors for there automobiles(under subheading (87 of Excise) our turnover of FY 2011-12 Was Rs. 205 Crores.
My query is that weather cost audit is mandatory for us or not.
if mandatory in what ground.
kindly give me suggestions on this...
09 November 2013
Hello,
As per the industry specific cost order dated 24 Jan 2012, under serial number 7, which includes Automotive components. The cost audit is applicable from the FY 2012-13 if turnover for previous FY i.e. 2011-12. And as in your case for the year 2011-12 the turnover is exceeding 100 crores, cost audit is applicable. For further queries you can contact me on 09742022309.
Regards,
Santosh Kalburgi & Co.
Cost Accountants
As per the industry specific cost order dated 24 Jan 2012, under serial number 7, which includes Automotive components. The cost audit is applicable from the FY 2012-13 if turnover for previous FY i.e. 2011-12. And as in your case for the year 2011-12 the turnover is exceeding 100 crores, cost audit is applicable. For further queries you can contact me on 09742022309.
Regards,
Santosh Kalburgi & Co.
Cost Accountants
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
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
