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Need clarification on Cost Records to be audited

X Pvt. Ltd, belonging to Regulated Sector, has overall annual turnover of Rs 95 Lacs in the year 2018-19. Its products A, B and C generated aggregate turnovers of Rs 25 Lacs, 10 Lacs and 30 Lacs respectively in their individual capacity in the same year. Does the company have to get its cost records audited in 2019-20? Will any such Q come?


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

12-Nov-20 20:13

20

Answers (3)

Best Answer

Mostly no.


Suraj Lakhotia

Suraj Lakhotia

Admin

15-Nov-20 14:42

From last part of chapter 10.


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

13-Nov-20 10:47

Sir is that because prdt b has an individual turnover less than 25 crore, cost audit not applicable


Sajan Gangadharan

Sajan Gangadharan

CA Inter

2K+

15-Nov-20 17:14