Penalties for noncompliance under Cost Accounting Records rules impose fines on cost accountants and liability on companies and officers. A cost accountant who defaults under the Cost Accounting Records (Petroleum Industry) Rules is subject to a monetary fine; contravention by a company ... Summary
Penalties for noncompliance under Cost Accounting Records rules impose fines on cost accountants and liability on companies and officers.
A cost accountant who defaults under the Cost Accounting Records (Petroleum Industry) Rules is subject to a monetary fine; contravention by a company attracts penal consequences under the Companies Act, and every officer in default, including persons specified by the Act, is exposed to the penal provisions applicable to officers in default.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.