Updated On:
07/07/2014
After 3 months of notification of section 148 dealing with cost audit, the Government has finally notified that Companies (Cost records and audit) Rules 2014 on 30th June 2014. The final cost records and audit rules are mostly on the lines of draft rules issued earlier. As compared to Companies Act 1956 where there are separate rules for cost audit and cost records here only set of rules are issued covering both the aspects.
A summary of the provisions of the cost audit and records is given hereunder
Requirement of maintaining the cost audit and records:
Under Companies Act 2013
Section 148 read with the Companies (Cost Records and Audit) rules 2014
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Cost Records |
Cost Audit |
| S.No |
Industries
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Multiple product or service |
Single Product or Service |
Multiple product or service |
Single Product or Service |