Jatin Bajaj
(CS)
(2930 Points)
Replied 04 May 2016
According to Rule 4(1) of Cost Audit Rules, Every Company specified under item A of rule 3 shall get its cost records audited in accordance with the above rules if the overall annual turnover of the Company from all of its products and services during immediately products and services is Rupees 50 crore or more and agregate turnover from indivisual products or services is 25 Crores or more.
According to Rule 4(2) of Cost Audit Rules, Every Company specified under item B of Rule 3 shall fet its cost records audited in accordance with above rule if the overall turnover of the Company from all of its products and services during immediately products and services is Rupees 100 crore Rupees or more and agregate turnover from indivisual products and services is 35 Crores or more.
Provided that nothing in this rule shall apply to the Company which is operating from Special Economic Zone
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