The Ministry of Corporate Affairs, Government of India has notified The Amended Cost Audit Rules-as per The Companies (Cost Records and Audit) Amendment Rules, 2014 dt 31stdec2014 in which the given below industries have to follow maintenance of cost accounting records if their Gross Turnover exceed 35 crs from f.y 2014-15
If their gross turnover exceed 50 crs and turnover of individual products / Services covered for Maintenance of Cost Records exceed Rs. 25 Crs, he given below NON- Regulated Sectors are covered for Cost Audit from f.y 2014-15
if their gross turnover exceed 100 crs and turnover of individual products / Services covered for Maintenance of Cost Records exceed Rs. 35 Crs
The Circulars By ministry of corporate affairs regarding cost audit are given below:
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