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TMI BlogThe Cost Accounting Records (Fertilizer Industry) Rules, 2011X X X X Extracts X X X X X X X X Extracts X X X X ..... session, the Central Government hereby makes the following rules, namely: ‐ 1. Short Title and Commencement, - (1) These rules may be called the Cost Accounting Records (Fertilizer Industry) Rules, 2011. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions and Interpretations, - In these rules, unless otherwise requires,‐‐‐ (a) "Act" means the Companies Act, 1956 (1 of 1956); (b) "compliance report" means the compliance report duly authenticated and signed by a cost accountant in the specified form of compliance report; (c) "Cost Accountant" for the purpose of these rules means a cost accountant as defined in clause (b) of sub‐section (1) of section 2 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Principles" means the principles of cost accounting issued by the Institute; (j) "Institute" means the Institute of Cost and Works Accountants of India constituted under the Cost and Works Accountants Act, 1959 (23 of 1959); (k) "product" means any tangible or intangible good, material, substance, article, idea, know‐how, method, information, object, service, etc. that is the result of human, mechanical, industrial, chemical, or natural act, process, procedure, function, operation, technique, or treatment and is intended for use, consumption, sale, transport, store, delivery or disposal; (l) "product group" in relation to tangible products means a group of homogenous and alike products, produced from same raw materials and by usin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s during the immediately preceding financial year exceeds twenty crores 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: Provided that these rules shall not apply to a body corporate governed by any special Act. 4. Maintenance of records, - (1) Every company to which these rules apply, including all units and branches thereof shall, in respect of each of its financial year commencing on or after the date of this notification, keep cost records and the books of account so maintained shall contain, inter‐alia, the particulars specified in Proformae A to G mentioned in the Schedule annexed to these rules. (2) The cost rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relating to a period of not less than eight financial years immediately preceding a financial year or where the company had been in existence for a period less than eight years, in respect of all the preceding years shall be kept in good order. (7) Every person, referred to in sub‐section (6) and (7) of section 209 of the Companies Act, 1956 (1 of 1956), shall take all reasonable steps to secure compliance by the company with the provisions of these rules in the same manner as he is liable to maintain accounts required under sub‐section (1) of section 209 of the said Act. 5. Form of the Compliance Report, - Every company to which these rules apply shall submit a compliance report, in respect of each of its financial year comm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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