Company Law : All of us have started experiencing the heat towards the compliance mechanisms being put up by the statutory/regulatory authoritie...
Goods and Services Tax : Get ready for scrutiny of GST returns for 2017-18 and 2018-19. CBIC issues instructions as CGST begins audits. Stay prepared for p...
Finance : Budgets are announced by states and center to provide an idea as to from the money will come and where the money will go so far as...
Company Law : MCA has started identifying the companies who have not complied with the provisions with regard to the appointment of Cost Auditor...
Goods and Services Tax : COVID pandemic subsiding and GST Department Stepping up the Heat on the Assesses With COVID pandemic subsiding, the activities of ...
Certification of Documents to be filed with MCA needs extra caution by Professionals which may effect of increase in Certification costs.
CMA Navneet Kumar Jain The companies have now reason to relax as now no additional fee will be applicable for late filing of e-form 23C utpo 31st Oct 2013. Background: MCA had issued a cost audit order dated 6th Nov 2012 applicable from the year 2013-14 onward suppressing all the earlier cost audit orders. Through […]
Institute of Cost Accountants of India has released CAS-17: COST ACCOUNTING STANDARD ON INTEREST AND FINANCING CHARGES on 23/05/2013. This article is a step towards interpretation and explanation of various aspect of the said Cost Accounting Standard
MCA issues Cost Audit Order in suppression of earlier Cost Audit Orders During the year 2011-12, MCA issued various cost audit orders wherein maximum industries were brought under cost audit net. It needs attention that to bring uniformity in reporting,the MCA had issued a notification vide S.O. 1747(E) dated 7th August, 2012 mentioning Product or […]
Keeping in view of the ongoing requests from different quarters, MCA has extended the date of filing of Cost Compliance Reports and Cost Audit Reports upto 31st Jan 2013 vide General Circular No. 43/2012 dated 26 dec 2012.
With issue of various circulars, cost audit orders and notifications with regard to Cost Accounting, the MCA has set the stage for collection of the authentic information (duly approved by Bard of Directors and verified by a Cost Accountant) with regard to various industries for use by various Ministries.
Ministry of Corporate Affairs has done a remarkable job for the industry by issuing notifications with regard to Common Cost Accounting Record Rules, 2011 and six other Specific Cost Accounting Record Rules. Earlier there were 44 Cost Accounting Record Rules for different Industries and Cost Records were required to be prepared as per specific formats mentioned under those rules
The period of August and September is normally very busy for the accounting as the finalisation of accounts is done by maximum companies in this period only. As the Finance heads are busy with the finalisations of the books of accounts, they may skip some of the important notifications which may have an implication on the finances and regulatory compliances.
