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Sarvesh KoushikSarvesh Koushik asked 3 years ago

If a company engages in telecommunication, electricity and say for ex: infrastructure(which is not specified in regulated sectors). Will the turnover from infrastructure be counted in calculating overall annual turnover?

4 Answers
RaviRavi Staff answered 3 years ago

Applicability of Cost Records (Regulated or Non Regulated)
Condition 1 :- It should have at least one product / service from Regulated / Non -Regulated Sector
Condition 2:- Overall Turnover (Regulated + Unregulated + Others) of last year should be 35 crores or more
Applicability of Cost Audit (Regulated)
Condition 1:- Aggregate of Regulated Sector of last year should be 25 crores or more
Condition 2:- Overall Turnover (Regulated + Unregulated + Others) of last year should be 50 crores or more
 
Applicability of Cost Audit (Non Regulated)
Condition 1:- Aggregate of Regulated Sector of last year should be 50 crores or more
Condition 2:- Overall Turnover (Regulated + Unregulated + Others) of last year should be 100 crores or more
 

Sarvesh KoushikSarvesh Koushik answered 3 years ago

Does that mean every company having Turnover above 100cr requires cost audit, if turnover includes regulated/unregulated products?

RaviRavi Staff answered 3 years ago

we will have to check sectorwise turnover also, there are 2 cumulative conditions

Sarvesh KoushikSarvesh Koushik answered 3 years ago

Ok. Understood.

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