Cost audit requirement obliges covered companies in specified industries to obtain cost audits and file prescribed cost audit reports. Companies subject to the Companies (Cost Accounting Records) Rules, 2011 and engaged in the listed industries must, for each financial year commencing on or after 1 April 2012, have their cost accounting records audited by a cost auditor holding a valid certificate of practice; appointment must follow MCA General Circular No. 15/2011 and the cost auditor must prepare and forward the cost audit report in the format and timeframe prescribed by the Companies (Cost Audit Report) Rules, 2011.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost audit requirement obliges covered companies in specified industries to obtain cost audits and file prescribed cost audit reports.
Companies subject to the Companies (Cost Accounting Records) Rules, 2011 and engaged in the listed industries must, for each financial year commencing on or after 1 April 2012, have their cost accounting records audited by a cost auditor holding a valid certificate of practice; appointment must follow MCA General Circular No. 15/2011 and the cost auditor must prepare and forward the cost audit report in the format and timeframe prescribed by the Companies (Cost Audit Report) Rules, 2011.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
