Cost audit-pharma loan licence

This query is : Resolved

VIPUL (Querist)
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26 September 2013 Our client is a pvt. ltd. pharma co.
getting its drugs manufactured from
other plants owners under loan licence
agreement, their turnover exceeds 100 crores
shall they have to get cost audit done ?
they are not having any plant & machinery
in their books
they are registered as dealer under excise
act ,
so are they called mfgr or trader
for cost audit

Thanks

Veeraraghava Narasimhan

Veeraraghava Narasimhan (Expert)
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27 September 2013 If their MOA says they are engaged in production or manufacturing then they have to go for Cost Audit as their turnover crosses 100 crores.