https://www.taxtmi.com/article/detailed?id=14596 The Rules require specified manufacturing and service companies to maintain detailed cost records in accordance with Cost Accounting Standards and, where turnover thresholds are met, to undergo a statutory cost audit by a qualified Cost Accountant. The auditor must verify compliance, analyse cost structures, and file a report with the Ministry of Corporate Affairs (including Form CRA-4) together with a reconciliation between cost records and financial accounts within the prescribed period. Non-compliance attracts penalties and continuing breaches incur daily fines, while exemptions and periodic amendments are governed by the Ministry. en-us Sat, 07 Jun 2025 08:41:53 +0530 Sat, 07 Jun 2025 08:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14596 The Rules require specified manufacturing and service companies to maintain detailed cost records in accordance with Cost Accounting Standards and, where turnover thresholds are met, to undergo a statutory cost audit by a qualified Cost Accountant. The auditor must verify compliance, analyse cost structures, and file a report with the Ministry of Corporate Affairs (including Form CRA-4) together with a reconciliation between cost records and financial accounts within the prescribed period. Non-compliance attracts penalties and continuing breaches incur daily fines, while exemptions and periodic amendments are governed by the Ministry. Articles Corporate Laws / IBC / SEBI Sat, 07 Jun 2025 08:41:53 +0530 https://www.taxtmi.com/article/detailed?id=14596