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

2 answers

Ravi Staff June 12, 2016

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.

#1

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

#2

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