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of <h1>Clarification on Companies (Cost Accounting Records) Rules, 2011: Exemptions for Specific Sectors, Units, and Products Explained.</h1> The Ministry of Corporate Affairs issued clarifications regarding the applicability of the Companies (Cost Accounting Records) Rules, 2011. These rules do not apply to sectors like wholesale/retail trading, banking, insurance, IT services, and others unless specified otherwise. Cost Audit Orders are exempt for electricity generated for captive use, products consumed internally, and 100% Export Oriented Units, with conditions. Exemptions apply to units in Special Economic Zones and similar areas, but cost records must still be maintained. Only products related to specific industries, as per the Central Excise Tariff Act, 1985, are subject to cost audit. Further clarifications can be sought from the office.
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