Penalties for non-compliance under cost accounting rules: cost accountants face fines; companies and officers incur statutory liability. Rule 8 imposes penal consequences for non-compliance with the Cost Accounting Records (Sugar Industry) Rules, 2011: a defaulting Cost Accountant is liable ... Summary
Penalties for non-compliance under cost accounting rules: cost accountants face fines; companies and officers incur statutory liability.
Rule 8 imposes penal consequences for non-compliance with the Cost Accounting Records (Sugar Industry) Rules, 2011: a defaulting Cost Accountant is liable to a monetary penalty, while contravention by a company results in corporate liability and every officer in default is subject to statutory penalties under the Companies Act.
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