Cost audit

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Rishi Vyas (Querist)
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12 June 2012 Is cost audit mandatory for companies which are yet in their project stage and have not started production?

Regards,
Rishi

CA Hardik Bunha

CA Hardik Bunha (Expert)
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12 June 2012 cost audit is applicable to all companies.

yes, if company is not starting its production still provision is applicable.

statutory auditor also have to check cost records.

Rishi Vyas

Rishi Vyas (Querist)
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14 June 2012 Thanks Hardik. Could you please support your view with some authentic material like any clarificatory circular, case ruling or an extract from any commentary?

Regards,
Rishi

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Rishi Vyas

Rishi Vyas (Querist)
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14 June 2012 Thanks Hardik. Could you please support your view with some authentic material like any clarificatory circular, case ruling or an extract from any commentary?

Regards,
Rishi

CA Hardik Bunha

CA Hardik Bunha (Expert)
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20 June 2012 ok my friend,

when central government make order u/s 233A then cost audit is compulsary.

sometimes management may order for cost audit.

sometimes cost audit is carried out for govermnet for SUBSIDY OR GRANT( genuineness of transaction)

cost audti by trade association when continuous decrease price of same trade.

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CA Hardik Bunha

CA Hardik Bunha (Expert)
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20 June 2012 sorry section 233B not A

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