<h1>New Cost Audit Rules Under Companies Act 2013: Mandatory Cost Records for Key Sectors from April 2014.</h1> The draft rules under the Companies Act, 2013, titled the Companies (Cost Records and Cost Audit) Rules, 2013, have been introduced by the Central Government. These rules, effective from April 1, 2014, mandate specific companies to maintain cost records and undergo cost audits. Applicable sectors include strategic industries, regulated industries, and others with significant government investment or concessions. Companies must maintain detailed cost records and appoint a cost auditor. Exemptions apply to export-oriented companies and those in Special Economic Zones. The new rules repeal previous cost accounting and audit rules for various industries.