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<h1>India's 2014 Cost Audit Rules: New Compliance for Strategic and Regulated Companies, Exemptions for Exporters and SEZs</h1> The Companies (Cost Records and Audit) Rules, 2014, issued by the Ministry of Corporate Affairs, India, supersede previous rules from 2011. These rules mandate certain classes of companies to maintain cost records and undergo cost audits. The rules apply to companies engaged in strategic sectors, regulated industries, public interest areas, and those dealing with specific medical devices, subject to specified financial thresholds. Companies must maintain detailed cost records and appoint a cost auditor within 180 days of the fiscal year start. Exemptions apply to companies with significant export revenue or those operating in special economic zones.