https://www.taxtmi.com/article/detailed?id=5363 The draft Rules under Sections 148 and 469 require specified classes of companies - strategic sector companies, firms regulated by sectoral regulators or central ministries, and other enumerated companies - to maintain prescribed cost records in Form 'T' and to appoint a practicing cost accountant as cost auditor within prescribed timelines. Cost auditors must submit a cost audit report in the stipulated form after year end; audit provisions apply mutatis mutandis. The draft consolidates earlier industry specific rules, exempts units with major foreign exchange revenues and SEZ units, and omits the prior certified "compliance report" mechanism, prompting concerns from the cost accounting profession. en-us Tue, 26 Nov 2013 08:56:56 +0530 Tue, 26 Nov 2013 08:56:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5363 The draft Rules under Sections 148 and 469 require specified classes of companies - strategic sector companies, firms regulated by sectoral regulators or central ministries, and other enumerated companies - to maintain prescribed cost records in Form 'T' and to appoint a practicing cost accountant as cost auditor within prescribed timelines. Cost auditors must submit a cost audit report in the stipulated form after year end; audit provisions apply mutatis mutandis. The draft consolidates earlier industry specific rules, exempts units with major foreign exchange revenues and SEZ units, and omits the prior certified "compliance report" mechanism, prompting concerns from the cost accounting profession. Articles Corporate Laws / IBC / SEBI Tue, 26 Nov 2013 08:56:56 +0530 https://www.taxtmi.com/article/detailed?id=5363