10 July 2017
Dear all, when the cost auditor should be appointed for the financial year 2016-17? Our company appointed a cost auditor on 12th june 2017 for the F.Y 2016-17 and now the late fees showing is 7200. why the late fees is showing if we are filing CRA-2 within 30 days of appointment. please reply if anyone is aware of this scenario. An early reply shall be appreciated.
The companies required to get its cost records audited, shall within 180 days of the commencement of every financial year, appoint a cost auditor. In your case the last date for appointment of Cost Auditor for FY 2016- 17 was 30.09.2016, which means you are late in appointment. Thus late fees.
CAclubindia
