Cost Accounting Records and Cost Audit – General Clarifications.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... June, 2012 To, The President, Institute of Cost Accountants of India, 12, Sudder Street, Kolkata - 700 016 Subject: Cost Accounting Records and Cost Audit - general clarifications. Ministry of Corporate Affairs has so far issued following circulars in connection with the cost accounting records, cost audit, appointment of cost auditors etc. :  1.  General Circula....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....llowing rules apply, and wherein, the aggregate value of net worth as on the last date of the immediately preceding financial year exceeds five crore of rupees; or wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds twenty crore of rupees; or wherein the company's equity or debt se....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ords (Electricity Industry) Rules, 2001 (g)  Cost Accounting Records (Petroleum Industry) Rules, 2002 (h)  Cost Accounting Records (Telecommunications) Rules, 2002 3. In supersession of the aforesaid Rules, following industry specific Cost Accounting Records Rules were notified:  1.  Cost Accounting Records (Telecommunication Industry) Rules, 2011 notified vide GSR ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (a)  For all companies wherein their products/activities are already covered under any of the erstwhile industry specific Cost Accounting Records Rules, as mentioned in para 2 above [before their supersession] and meeting with the threshold limits mentioned in the said Cost Audit Orders - in respect of each financial year commencing on or after the 1st day of April, 2011 i.e. from the f....