The Ministry has issued notification relating to the Companies (Cost Records and Audit) Rules, 2014 under section 148 of the Companies Act, 2013. The last date for filing application for appointment of cost auditor under earlier rules was 30^th  June, 2014. Keeping this in view the new rules have been notified on 30^th June 2014.

These rules supersede eight sets of rules notified under the Companies Act, 1956. The new rules specify four classes of companies which shall be required to maintain cost records and who will be subject to cost audit. Relevant e-Forms would be made available on the MCA portal shortly.

The Notification is available on the Ministry’s website at www.mca.gov.in

Cost records and audit rules notified: four classes of companies designated for mandatory cost records and cost audit, e Forms to follow. Notification under section 148 of the Companies Act, 2013 notifies the Companies (Cost Records and Audit) Rules, 2014, superseding eight prior rule sets and establishing a statutory framework requiring four classes of companies to maintain cost records and be subject to cost audit, with prescribed e Forms to be provided on the Ministry's portal.