Penalties for non-compliance with cost accounting rules: fines for cost accountants and liability for companies and officers under Companies Act. A cost accountant who fails to comply with the Companies (Cost Accounting Records) Rules, 2011 is liable to a fine up to five thousand rupees. A company ... Summary
Penalties for non-compliance with cost accounting rules: fines for cost accountants and liability for companies and officers under Companies Act.
A cost accountant who fails to comply with the Companies (Cost Accounting Records) Rules, 2011 is liable to a fine up to five thousand rupees. A company that contravenes these rules, and every officer in default including specified persons under the Act, are punishable as provided under the Companies Act and its referenced subsections.
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