Dear Experts -
Need clarification
Assuming Cost audit is applicable to a company ( not a micro or small company under MSME act) having multiple product or multiple services. Say X, Y & Z ( assuming Table B - unregulated for cost audit rules)
Turnover in 2015-16 of X ( not covered under Table B) - 80 Crore , Turnover Y(covered under Table B ) - 25 Crore , Turnover of Z (covered under Table Z) - 20 crore.
1) Is cost audit applicable for 2016-17, even if the turnover falls below 100 crore (all products put together)?
2) What is the Turnover to be recokoned for cost audit purpose under rule 4 .
3) As a cost auditor, do we have to carrycost audit of all the products i.e including X ( Assumed it is also not covered under Table A), or no whether no cost audit is applicable - as the individual turnover of Y, and Z is below 35 crore?
4) Or carry only limited cost audit of products Y and Z as the aggregate value of Y and Z is more than 35 crore?
Regards
Vedant
CAclubindia
