Company Law - Unlock secrets of cost audits with our comprehensive FAQ guide. Learn about selection, remuneration, applicability, and more. Stay compliant and informed....
Company Law - Explore the essentials of Cost Records Maintenance as per Companies Act. Learn criteria, exemptions, formats, and importance of compliance....
Company Law - Recently number of Companies are receiving the Notice for Non-Appointment of Cost Auditor or Non submission of Cost Audit Reports for FY 2016-17, 2017-18 & onwards. As we are aware Cost Audit is mandatory after crossing threshold turnover limit of 50 Cr for regulated Industries & 100 Cr for Non-regulated Industries under section 1...
Company Law - Construction Industry – Applicability of Cost Audit & Maintenance of Cost Records First of all anyone has to check whether the Cost Audit or maintenance of cost records are /were applicable on the industry or not. So to check we have to go through these condition which are given below:- The Central Government issued Amended [&hellip...
Company Law - Article, discuss applicability of cost records under Indian law, legal provisions governing them, and procedures for maintaining them in compliance with latest amended rules and laws....
Company Law - CAASB Request for Comments on Exposure Draft of the Revised Standards on Cost Auditing (SCAs) Second Proviso to Section 148(3) of the Companies Act, 2013 states that the auditor conducting cost audit shall comply with the cost auditing standards. As per ‘Explanation’ below this proviso, the expression ‘cost auditing sta...
Company Law - Advisory on the Treatment of various items of Cost in light of Covid-19 pandemic & their Presentation / Disclosures in form CRA 3 of The Companies (Cost Records & Audit) Rules 2014 relating to the Accounting Period ending March 31, 2021...
Company Law - MCA amended Companies (Cost Records and Audit) Amendment Rules due to implementation of GST, other procedural changes and consequent revision of connected forms i.e. CRA-1 and CRA-3 Posted On: 02 DEC 2019 3:12PM by PIB Delhi The Ministry of Corporate Affairs (MCA) vide Notification No. G.S.R. 792 (E) dated 15.10.2019 has amended the Compa...
Company Law - The Cost Audit Branch, Ministry of Corporate Affairs had issued an Exposure Draft for amendments to the Companies (Cost Records & Audit) Rules, 2014. However, due to certain technical issues, the new Taxonomy and the Validation Tool are yet to be made ready and as a result the MCA is yet to notify the changes that are required especially ...
Company Law - The companies which produce products covered under excise even after July 1st, 2017 will continue to furnish the information in the same format provided by the Companies (Cost Records and Audit) Amendment Rules, 2017. The companies having their products or services covered under GST may follow the guidance provided in this advisory....
Notification No. Ref:G/128/05/2023 - (26/05/2023) - A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Understand format and implications of non-compliance....
General Circular No.15/2021 - (27/09/2021) - Representations have been received from various stakeholders for extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014 due to impact of COVID-19 pandemic....
General Circular No. 29/2020 - (10/09/2020) - It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by 30th November, 2020...
General Circular No. 17/2019 - (30/12/2019) - General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020. General Circular No. 17/2019 F.No. 52/50/CAB/2019 GOVERNMENT OF INDIA MINISTRY OF CO...
Notification No. G.S.R. 792(E). - (15/10/2019) - The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Government before the publication of this notification are not required to file their Cost Audit Report for the said financial year....
Notification No. Ref:G/128/05/2023 - 26/05/2023