The Ministry of Corporate Affairs (MCA) vide Notification No. G.S.R. 792 (E) dated 15.10.2019 has amended the Companies (Cost Records and Audit) Rules, 2014 through Companies (Cost Records and Audit) Amendment Rules, 2019 due to implementation of GST, other procedural changes and consequent revision of connected forms i.e. CRA-1 (Particulars relating to the items of costs to be included in the Books of Accounts) and CRA-3 (Form of Cost Audit Report). The said notification is placed on the MCA’s website www.mca.gov.in and is in public domain.

This was stated by Shri Anurag Singh Thakur, Union Minister for State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.

The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Government before the publication of Notification No. G.S.R. 792 (E) dated 15.10.2019 are not required to file their Cost Audit Report again for the said financial year as provided in clause 1(3) of the aforesaid notification.

The text of the clause 1(3) is reproduced below:

“The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Government before the publication of this notification are not required to file their Cost Audit Report for the said financial year.”.

The effective date of notification is 15.10.2019.

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RM/DKS/KMN

Cost audit rules amendment updates CRA-1 and CRA-3 and exempts prior CRA-4 filings from re filing. The Ministry of Corporate Affairs amended the Companies (Cost Records and Audit) Rules, 2014 to revise cost compliance forms CRA-1 and CRA-3 in light of GST implementation and procedural changes. The amendment, effected by notification G.S.R. 792 (E) with an effective date of 15.10.2019, includes a transitional provision exempting companies that filed CRA-4 for the relevant financial year before the notification's publication from re-filing that report.