Mrs.n (CS, LL.B ) (407 Points)
10 June 2014Hello,
COST AUDITOR
As per The Companies Act-1956 , within 90 days we had to file the roc form for the appointment of COST AUDITOR.
As we all await , as per The companies Act -2013, the section for cost auditor is notified but the rules are not yet released .
In this situation , please suggest what should be done as the last date is 30.06.2014, as per earlier act.
please guide.
Mrs.n
(CS, LL.B )
(407 Points)
Replied 23 June 2014
Hello
please suggest what should be done to wait or to upload the form ? but if we upload whta should be the details like order nos etc??
Uploading the form as per previous act is alos i think not proper solution.
pl.suggest
Mrs.n
(CS, LL.B )
(407 Points)
Replied 24 June 2014
Respected Mr. P.C.Agrwal sir and Mr.Ankur sir ,
Almost all the companies are filing 23 C for appointment of cost auditor for 2014-15 , as per last years parameters.
your advice and suggestion requires --
FIRSTLY - is it ok to do so ?? as earlier section sppoke about approval of CG and now approval of CG for appointment -not wriiten in the section .
SECONDLY -the form itself asks order nos etc which were diif. for diff industries -Writing those order nos etc for this years appointment when the rule/section it self not inforce --???
THIRDLY --the fees -the normal fees are ranging from 10000 to 20000--? i mean is there some logic behind this high fees ?
fourthly - in the absence of any clarifications from MCA -all this are happening on just on the basis of assumption that earlier 90 days was the timie limit so this time also from 91 th days hugh penalty will be charged so all are rushing to file form 23C.IS IT OK ??
really surprised still mca has not come out with clarifications.
Your valuable guidence on this will be highly appreciated-
P.S-pardon typo errors
CS GK Murty
(Company Secretary)
(225 Points)
Replied 24 June 2014
Please refer General Circular no. 6/2014 dated 28.03.2014 to answer your above queries. The said circular is being attached herewth for your needful
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 24 June 2014
Mrs.N: I totally agree with you. With the notification of Sec.148 of CA 2013 relevant provisions of CA 1956 and rules framed thereunder relating to cost audit stand repealed. However, surprisingly, MCA has not notified Rules u/s 148 thus leaving the industry in great confusing state. In such a scene no advice will be a perfect one. We can only wait for new Rules or clarification from MCA. You may refer communication from President, ICAI in this regard:
https://www.icmai.in/upload/Institute/Communique-President-18062014.pdf
Desai
(CS)
(329 Points)
Replied 28 June 2014
Hello
I think MCA will not clarify this even as when there is ambiguity between two sections etc they release the clarifications/ notifications/ammendments etc.
Here , in the appointment of cost auditor case when rules itself are not notified , how we can assume something and seek clarification on the same.
The companies have assumed that old 23C form is applicable for this year appointment for -year 2014-15 becoz this form is available at MCA portal.
still will hold the view that companies should not file form 23C till the rules are notifed.
imagine if the rules when prescribes any other forms etc with the same level of fees. than would company be filed twice forms???
contrary view solicited ---
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 28 June 2014
Yes please in Section 148 which has been notified, there is no provision for CG approval for appointment of cost auditor. Hence there is no need to file 23C for 2014-15. It is clear.
Desai
(CS)
(329 Points)
Replied 01 July 2014
A BIG BIG THANK YOU TO SHRI P.C.AGRAWAL SIR FOR THIS VALUABLE ADVICE.
VERY VERY LOGICAL SIR ! HATS OFF !!!!!
PLEASE PLEASE KEEP GUIDING US !!!!!
CAclubindia
