Non filing of cost compliance report

Sameera (Article assistant) (262 Points)

07 January 2015  

Hi all

As we know that every manufacturing company whose turnover exceeds 20 crores, needs to file a cost compliance report duly certified by a cost accountant with central government within 180 days of closure of financial year.

I want to know what is the penalty for non compliance of the above provision for the company ??

Thank you