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TMI BlogCost Accounting Records and Cost Audit – General Clarifications.X X X X Extracts X X X X X X X X Extracts X X X X ..... nts 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 Circular No. 15/2011 dated 11th April, 2011 2. Master Circular No. 2/2011 dated 11th Novembe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ees; 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 securities are listed or are in the process of listing on any stock exchange, whether in India or outside India, shall get its cost accounting records, in res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, following industry specific Cost Accounting Records Rules were notified: 1. Cost Accounting Records (Telecommunication Industry) Rules, 2011 notified vide GSR 869(E) dated December 7, 2011. 2. Cost Accounting Records (Petroleum Industry) Rules, 2011 notified vide GSR 870(E) dated December 7, 2011. 3. Cost Accounting Records (Electricity Industry) Rules, 2011 notified vide GSR 871(E) dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ach financial year commencing on or after the 1st day of April, 2011 i.e. from the financial year 2011-12 onwards. (b) For all companies wherein their products/activities are for the first time covered under any of the revised industry specific Cost Accounting Records Rules, as mentioned in para 3 above and meeting with the threshold limits mentioned in the said Cost Audit Orders - in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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