valid as on 23/09/2020

10.2.4-Companies (Cost Records and Audit) Rules, 2014

  (1) Every company specified in the item (A) of rule 3 shall be required to get its cost records audited in accordance with these rules if the overall annual turnover of the company from all its products and services during the immediately preceding financial year is rupees fifty crore or more and the aggregate turnover of the individual product or products or service or services for which cost records are required to be maintained under rule 3 is rupees twenty five crore or more

(2) Every company specified in item (B) of rule 3 shall get its cost records audited in accordance with these rules if the overall annual turnover of the company from all its products and services during the immediately preceding financial year is rupees one hundred crore or more and the aggregate turnover of the individual product or products or service or services for which cost records are required to be maintained under rule 3 is rupees thirty five crore or more.

(3) The requirement for cost audit under these rules shall not apply to a company which is covered in rule 3, and-

(i) Whose revenue from exports, in foreign exchange, exceeds seventy five percent of its total revenue; or

(ii) which is operating from a special economic zone.

which is engaged in generation of electricity for captive consumption through Captive Generating PIant. For this purpose, the term “Captive Generating Plant” shall have the same meaning as assigned in rule 3 of the Electricity Rules, 2005″;

  substituted vide Companies (Cost Records and Audit) Amendment Rules,2014. To view the notification,Click Here
Inserted vide Companies (cost records and audit) Amendment Rules, 2016. To view the notification,Click Here

Companies (cost records and audit) Amendment Rules, 2014 dated 31/12/2014


Companies (cost records and audit) Amendment Rules, 2016 [GSR 695(E)] dated 14/07/2016


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