Product or Activity Group classification required for cost audit and compliance reports under Companies Act to standardise reporting. The Central Government prescribes a standardised classification of Product or Activity Groups and directs companies to use these groups in Cost Audit Reports and Compliance Reports filed under the Companies Act, 1956, with an Annexure mapping group codes to named product groups and corresponding Central Excise Tariff Act chapter headings; guidance is provided on multiple units of measurement, overlapping tariff headings, and the distinction from industry names in cost audit orders.