In applicability of cost audit, in calculating annual turnover from "all" products and services- is turnover from those sectors other than those specified in regulated sector also counted?

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

Ravi Staff April 3, 2018

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
 

#1

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

#2
Ravi Staff April 4, 2018

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

#3

Ok. Understood.

#4

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