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Cost audit

Auditing

Sir, in cost audit applicability, if anyone of the products produced by a company have a turnover less than 25 cr, then will it be applicable?

Sajan Gangadharan

CA Final

★ 9K+

16-Nov-20 11:16

350

Answers (1)

Best Answer

For classes of companies specified under Item (A) i.e. Regulated Sectors, the AGGREGATE turnover of INDIVIDUAL products/services FOR WHICH COST RECORDS ARE TO BE MAINTAINED are required to be Rs 25 cr or more, and then only such conpany will attract cost audit. See attached. For Non Regulatrd sector it is 35 cr or more