TaxTMI 
TaxTMI 
Companies (cost records and audit) Amendment Rules, 2016
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....official Gazette. 2. In the Companies (cost records and audit) Rules, 2014 (hereinafter referred to as the Principal Rules),- (i) in rule 2, for clause (d), the following clause shall be substituted, namely:- "(d) "cost audit report" means the duly signed cost auditor's report on the cost records examined and cost statements which are prepared as per these rules, including attachment, annexure, qualifications or observations attached with or included in such report;" (ii) in rule 3, for Table (A) and Table (B), the following Tables shall be substituted, namely:- "TABLE (A) Regulated Sectors Sl. No. Industry/ Sector/ Product/ Service Central Excise Tariff Act Heading (wherever applicable) 1. Telecommunic....
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....d to be covered under these rules 8401; 8801 to 8805;8901 to 8908. 2. Turbo jets and turbo propellers; 8411 3. Arms, ammunitions and Explosives; 3601 to 3603; 9301 to 9306. 4. Propellant powders; prepared explosives (other than propellant powders); safety fuses; detonating fuses; percussion or detonating caps; igniters; electric detonators; 3601 to 3603 5. Radar apparatus, radio navigational aid apparatus and radio remote control apparatus; 8526 6. Tanks and other armoured fighting vehicles, motorised, whether or not fitted with weapons and parts of such vehicles, that are funded (investment made in the company) to the extent of ninety per cent or more by the Government or Government agencies; 8710 7. Port services of stev....
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....; 8007; 8101 to 8113 18. Inorganic chemicals, organic or inorganic compounds of precious metals, rare-earth metals of radioactive elements or isotopes, and organic chemicals; 2801 to 2853; 2901. to 2942; 3801 to 3807; 3402 to 3403; 3809 to 3824. 19. Jute and Jute Products; 5303, 5310 20. Edible Oil; 1507 to 1518 21. Construction Industry as per para No. (5) (a) as specified in Schedule VI of the Companies Act, 2013 (18 of 2013); Not applicable. 22. Health services, namely functioning as or running hospitals, diagnostic centres, clinical centres or test laboratories; Not applicable. 23. Education services, other than such similar services falling under philanthropy or as part of social spend which do not form part of any b....
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.... PIant. For this purpose, the term "Captive Generating Plant" shall have the same meaning as assigned in rule 3 of the Electricity Rules, 2005"; (iv) in rule 6, in sub-rule (1), the following proviso shall be inserted, namely: - "Provided that before such appointment is made, the written consent of the cost auditor to such appointment, and a certificate from him or it, as provided in sub-rule (1.A), shall be obtained"; (v) in rule 6, after sub-rule (1), the following sub-rule shall be inserted, namely:- "(1A) The cost auditor appointed under sub-rule (1) shall submit a certificate that- (a) the individual or the firm, as the case may be, is eligible for appointment and is not disqualified for appointmen....