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July 2011

Vide Notification dated 3rd June 2011, the MCA has issued the Companies (Cost Accounting Records) Rules, 2011. They will apply to every company which is engaged in the production, processing, manufacturing, or mining activities and wherein,

By Sejal Vasa, Company Secretary
Reading Time 1 mins
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? the aggregate value of net worth as on the last date of the immediately preceding financial year exceeds five crore rupees;

? or wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds twenty crore rupees;

? or wherein the company’s equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India. Cost records need to be maintained for all units and branches thereof in respect of each of its financial year commencing on or after the 1st April, 2011.

For further information:

http://www.mca.gov.in/Ministry/notification/pdf/ Common_Record_Rules_03jun11.pdf

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