COST ACCOUNTING RECORD RULES, 2011
Not applicable to a body corporate governed by a special Act
Clarification – General Circular 67/2011
The new Cost Accounting Records Rules, 2011 (Common & 6 Industry specific) are not applicable to
companies engaged in:
charges, such as, tailoring, baking, repairing, painting, printing, constructing, servicing, etc.
v A company yet to commence commercial operations.
v Ancillary products/activities of companies incidental to their main operations (i.e. products/activities
that do not constitute their main line of business)
• where the total turnover from the sale of each such ancillary products/activities do not exceed
2% of the total turnover of the company or • ` 20 crores, whichever is lower.
v Required details of all such ancillary products/activities to be maintained under a miscellaneous
group and disclosed appropriately.
Not applicable to a body corporate governed by a special Act
- Supersedes 36 Cost Accounting Records out of 44 issued till date
- Not applicable to following activities or products covered under individual Cost Accounting Records Rules notified on 7th December 2011:
- Pharmaceuticals
- Electricity Industry
- Sugar
- Fertilizers
- Telecommunications
- Petroleum Industry
Clarification – General Circular 67/2011
The new Cost Accounting Records Rules, 2011 (Common & 6 Industry specific) are not applicable to
companies engaged in:
Job work operations or contracting/ sub-contracting activities and paid only the job work or conversion
- Wholesale Trading
- Insurance
- Recreation
- Retail Trading
- Education
- Transport Services
- Banking
- Healthcare
- Professional Consultancy
- Financial Tourism IT & IT Enabled Services
- Leasing Travel Research& Development
- Investment Hospitality Postal/Courier services
charges, such as, tailoring, baking, repairing, painting, printing, constructing, servicing, etc.
v A company yet to commence commercial operations.
v Ancillary products/activities of companies incidental to their main operations (i.e. products/activities
that do not constitute their main line of business)
• where the total turnover from the sale of each such ancillary products/activities do not exceed
2% of the total turnover of the company or • ` 20 crores, whichever is lower.
v Required details of all such ancillary products/activities to be maintained under a miscellaneous
group and disclosed appropriately.
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