General Circular Nq_68/2011 52/13/CAB-2011 Government of Indla Ministry of Corporate Affairs Cost Audit Branc… — THE COST ACCOUNTANTS ACT, 1959

General Circular Nq_68/2011 52/13/CAB-2011 Government of Indla Ministry of Corporate Affairs Cost Audit Branch ***** 'B-1' Wing, 2nd Floor, Paryavaran Bhawan, CGO Complex, Lodhl Road, New Delhl 110 003 Dated the November 30, 2011 The President; Institute of Cost and Works Accountants of India, 12, Sudder Street, Kolkata 700 016 SubJect: Coat Accounting Records and Cost Audlt = clarifications reqarding appllcabllity and compllanca raaulrements Sir, In connection with the recently issued circulars/notlficatlons concerning cost accounting records and cost audlt; following clarificatlons are issued: (a) That the companies covered under Companies (Cost Accountlng Records) Rules, 2011 shall only file a simple compliance report as per the notified Form-B (copy enclosed) and no other detalls of cost records are requlred to be flled with the Government: If all the products/activities of a company, excluding the exempted categories, are covered under cost audlt; then the company will not be required to separately file the compliance report: (b) That for companies coming under the purview of the Companies (Cost Accounting Records) Rules, 2011 and the Companies (Cost Audit Report) Rules, 2011 for the first time, cost records and cost detalls, statements, schedules, etc: shall be kept in good order for the next elght financial years beginnlng with first year of application of the said Rules; (c) That the term "Turnover" defined in the Companles (Cost Accounting Records) Rules, 2011 shall exclude taxes & duties. It shall have the same meaning, wherever It appears, in all other orders/rules Issued In connection with the cost accounting records and cost audit; (d) That for flling the cost audlt reports under the Companles (Cost Audit Report) Rules, 2011, following procedure may be foll