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TMI BlogAudit of cost accounts in - Product or Activity GroupX X X X Extracts X X X X X X X X Extracts X X X X ..... (f) Cost Accounting Records (Pharmaceutical Industry) Rules 2011; and which are engaged in the production, processing, manufacturing or mining of the products/activities included in the said Rules or covered in the following product or activity groups [Table-I] and wherein the aggregate value of the net worth of the company as on the last date of the immediately preceding financial year exceeds five crore of 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 of 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, shall get its cost accounting records, in respect of each of its financial year commencing on or after the 1st day of January, 2013, audited by a cost auditor who shall be, either a cost accountant or a firm of cost accountants, holding valid certificate of practice under the provisions of Cost and Works Accountants Act, 1959 (23 of 1959). Table-I S.No. Product or Activity Group Code Name of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 1956) , the Central Government being of the opinion that it is necessary to do so, hereby directs that all companies to which the Companies (Cost Accounting Records) Rules, 2011 apply, and which are engaged in the production, processing, manufacturing or mining of the products/activities included in the following product or activity groups [Table-II], and wherein the aggregate value of the turnover made by the company from sale or supply of all its products or activities during the immediately preceding financial year exceeds hundred crore of 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, shall get its cost accounting records, in respect of each of its financial year commencing on or after the 1st day of January, 2013, audited by a cost auditor who shall be, either a cost accountant or a firm of cost accountants, holding valid certificate of practice under the provisions of Cost and Works Accountants Act, 1959 (23 of 1959). Table-II S.No. Product or Activity Group Code Name of the Product or Activity Group Central Excise Tarif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tives (excluding Bulk Drugs) 2901 to 2942 31 2013 Albuminoidal Substances, Starches, Glues and Enzymes 3501 to 3507 32 2014 Miscellaneous Chemical Products 3801 to 3807; 3809 to 3825 33 2021 Tanning Substances 3201 to 3202 34 2022 Colours, Dyes and Pigments 3203 to 3207; 3212 35 2023 Paints and Varnishes 3208 to 3211 36 2024 Inks and Colours 3213; 3215 37 2025 Plasters and Fillers 3214 38 2026 Essential Oils 3301 to 3302 39 2027 Personal Care Products 3303 to 3307; 8212; 9615 to 9616 40 2028 Soaps, Detergents and Cleaning Agents 3401 to 3402 41 2029 Lubricating Preparations 3403 42 2030 Waxes and Wax Products 3404 to 3407 43 2031 Explosives 3601 to 3603 44 2032 Fireworks, Matches and Combustible Materials 3604 to 3606 45 2033 Photographic and Cinematographic Goods 3701 to 3707 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o 6507 79 3036 Articles of Stones, Plaster, Cement, Asbestos and Mica 6801 to 6815 80 3037 Ceramic Products 6901 to 6914 81 3038 Glass and Glass Products 7001 to 7011; 7013 to 7020 82 3039 Pearls, Diamonds, Stones and Jewellery Articles 7101 to 7118 83 4001 Primary Ferrous Materials 7201 to 7205 84 4002 Iron and Non-Alloy Steel 7206 to 7217 85 4003 Stainless Steel 7218 to 7223 86 4004 Other Alloy or Non-Alloy Steel 7224 to 7229 87 4005 Steel Products 7301 to 7326 88 4006 Copper and Copper Products 7401 to 7413; 7415; 7418 to 7419 89 4007 Nickel and Nickel Products 7501 to 7508 90 4008 Aluminium and Aluminium Products 7601 to 7616 91 4009 Lead and Lead Products 7801 to 7802; 7804; 7806 92 4010 Zinc and Zinc Products 7901 to 7905; 7907 93 4011 Tin and Tin Products 8001 to 8003; 8007 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4040 Clocks or Watches and Parts thereof 9101 to 9114 122 4041 Musical Instruments and Parts thereof 9201 to 9202; 9205 to 9209 123 4043 Medical or Vehicular or other Furniture and Mattress and parts thereof 9401 to 9404 124 4044 Lights and Fittings 9405 125 4045 Prefabricated Buildings 9406 126 4046 Toys, games and sports Equipments 9503 to 9508 127 4047 Stationery Items 9608 to 9612 128 4048 Miscellaneous manufactured articles 9601 to 9607; 9613 to 9614; 9617 to 9618 Notes: (a) The Product or Activity Groups referred to in Table-I II above shall include all products/activities included in the corresponding CETA Chapter Headings mentioned therein irrespective of whether Central Excise Duty is levied or not. (b) In respect of those Product or Activity Groups mentioned in Table-I above corresponding to which no CETA Chapter Headings are applicable, the product/activity groups shall include all such activities that fall under the meaning of the respective product/ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter the 1st day of January 2013, irrespective of whether the same was covered or not, either under the company specific cost audit orders issued prior to 31st March 2011 or under the industry specific cost audit orders issued after 1st April 2011 till date. 5. All companies that were earlier covered under industry specific orders dated 2nd May 2011 or 30th June 2011 or 24th January 2012 [subject to their meeting with the qualifying criteria mentioned therein] shall continue to comply with the earlier orders upto the financial year commencing prior to the 1st day of January 2013 and in continuum, with these orders in respect of each of its financial year commencing on or after the 1st day of January 2013. 6. Every company to which these orders apply shall follow the revised procedure for appointment of cost auditor as laid down vide Ministry of Corporate Affairs' General Circular No. 15/2011 dated 11th April 2011 [as amended vide General Circular No. 36/2012 dated 6th November 2012 ]. 7. The audit shall be conducted in such manner as will enable the cost auditor to prepare the report in accordance with the Companies (Cost Audit Report) Rules, 2011 read with the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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