Our company is engaged in manufacturing and exporting of granites. We have turover of more than Rs. 100 crores. Whether appointment of cost auditor for auditing the cost records is applicable for us? Please advise.
3 Replies
shinil
(student)
(32 Points)
Replied 02 December 2016
Please find the enclosed attachment regarding applicability of cost audit for your company.
Attached File : 630436 20161202094940 cost audit amendment rules 01012015.pdf downloaded: 231 times
Jatin Bajaj
(CS)
(2930 Points)
Replied 02 December 2016
According to section 148 of the Companies Act , Read with Companie Cost Audit Rule, As your Company falls under point no 6 of Clause C of Rule 3 of Cost Audit Rule, and as per this rule if the Company is producing more than 1 product or service, any product or service in which the indivisual turnover is rupees 50 crore or more , then Company has to appoint Cost Auditor.
But in case Company is producing any specific product or service and if the net worth of the Company is rupees 150 crore or or turnover of 25 crore or more then the Company has to appoint Cost Auditor
CMA Satish Kumar Gupta
(CMA)
(232 Points)
Replied 05 December 2016
Dear. Arjun plz provide me your email address I will mail you a tool for checking cost audit in any company...
Recent Topics
- Gratuity under CTC
- GST refund paid as estimated tax liability
- Salary Income and Professional services income
- Sec 54 and TDS on sale of property
- Airbnb Manager - I manage properties for owners
- Wrong head ed for late fee
- Inter Company trnafer
- Job work-Reg
- Who is liable to pay GST if bank charges excl GST
- Cost of Acquisition IPO cases
Related Threads
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
