if company produce electric item like transformer, meter, cable etc..... and 2016-17 FY turnover was 70 Cr than please tell whether cost audit applicable or not for FY 2017-18
4 Replies
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 16 December 2017
Applicability of Cost Audit:
Out of the companies required to maintain cost records as per Rule 3, the following companies shall have its records audited annually:
Item A (regulated sector)
- Every company having annual [NOTE 2]turnover from all its products and services in the immediately preceding financial year of Rs. 50 Crore or more and
- The aggregate turnover of the individual product or products or service or services of Rs. 25 Crore or more.
Item B (non regulated sector)
- Every company having annual turnover from all its products and services in the immediately preceding financial year of Rs. 100 Crore or more and
- The aggregate turnover of the individual product or products or service or services of Rs. 35 Crore or more.
Neha Jain
(Chartered Accountant)
(1085 Points)
Replied 16 December 2017
please provide list of regulated sector & non regulated sector
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 16 December 2017
Please find enclosed herewith Attach File.
Attached File : 85361 20171216144153 comparative statement revised.pdf downloaded: 185 times
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