Companies encaged in the production, processing, manufacturing or mining activities have to maintain cost records (and also submit compliance report) in respect of financial year commencing from 1st April 2011 incase the following conditions apply.(except to some industries specified in The Companies (Cost Accounting Records) Rules, 2011’ )
1. Wherein the aggregate value of the net worth as on the last date of the immediately preceding financial year exceeds five crores rupees.
2. Wherein the aggregate value of the turnover made by the company during the previous year exceeds twenty crore rupees.
3. Wherein the company’s equity or debt securities are listed or in process of listing on any stock exchange.
Kindly refer ‘The Companies (Cost Accounting Records) Rules, 2011’ for further details
Thanking You
Yours Faithfully
JINSON .C.S., B.COM, AICWA
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