limit of turnover for cost audit applicability…. sir i have a confusion over cost audit applicability on regulations d sectors bec turnover of aggregate individual sector mentioned in book is 25 crores.. biut i cant find this limit anywhere in institute material.. is that limit of 25 cr changed

Questions › Category: Co. Audit - I › limit of turnover for cost audit applicability…. sir i have a confusion over cost audit applicability on regulations d sectors bec turnover of aggregate individual sector mentioned in book is 25 crores.. biut i cant find this limit anywhere in institute material.. is that limit of 25 cr changed

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Mayank Mendiratta asked 8 years ago

Question Tags: cost audit

2 Answers

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Ravi Staff answered 8 years ago

Hello Mayank
All the limits are as per amended cost audit rules. There are four limits used 25 / 35 / 50 / 100 crores for cost records and cost audit.

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Kannaujiya & Co (Cost Accountant) answered 8 years ago

There are two sector in Cost Audit Applicability which are as follows
A-Regulated Sector
Cost Records Maintenance : Total Turnover of Company More than Rs 35 Cr.
Cost Audit : Total Turnover of Company Rs.50 Cr and Individual Product Turnover Rs 25 Cr.
B- Non Regulated Sector
Cost Records Maintenance : Total Turnover of Company More than Rs 35 Cr.
Cost Audit : Total Turnover of Company Rs. 100 Cr and Individual Product Turnover Rs 35 Cr.

for more details , http://www.cmapk.in or write us at pankaj@cmapk.in
Regards
Pankaj Kannaujiya (Cost Accountant)
http://www.cmapk.in