APPOINTMENT OF COST AUDITOR

[Neeraj Kejriwal]

Dear Freinds

My two clients have received show cause notice from Ministry of Corporate affairs (Cost Audit Branch) under section 148 of the Companies Act,2013 for not appointing Cost auditor.

My both the clients purely in Trading business (no value addition) and having turnover more than 100 crores.

One is importer  and trader of Base metals

Another is  importer and trader of Mobile Handsets .

Please guide me whether appointment of cost auditor is mandatory. 

--

Thanks and Regards
Neeraj

For Neeraj Kejriwal & Associates

Chartered Accountants 
56 Metcalfe Street
2nd Floor, Room No.2E
Kolkata- 700013
PH: (033) 40064000 
CELL: 9830897882
nkejriwal.ca@gmail.com

[Neeraj Kejriwal]

Dear Freinds

My two clients have received show cause notice from Ministry of Corporate affairs (Cost Audit Branch) under section 148 of the Companies Act,2013 for not appointing Cost auditor.

My both the clients purely in Trading business (no value addition) and having turnover more than 100 crores.

One is importer  and trader of Base metals

Another is  importer and trader of Mobile Handsets .

Please guide me whether appointment of cost auditor is mandatory. 

--

Thanks and Regards

neeraj

For Neeraj Kejriwal & Associates

[R.Agarwalla]

Not applicable. Excemption given most of sectors . Pls get the notification from MCA

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[madhusudan mohata]

yes appointment is mandatory.

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Thanks $ Regards.........................?

MADHUSUDAN MOHATA

ॐ भूर्भुवः स्वः तत्सवितुर्वरेण्यं भर्गो देवस्य धीमहि धियो यो नः प्रचोदयात्।

A Day Without Laughter is a day wasted…Keep SmilingJ

If u want to leave ur footprints on sand for time, do not drag ur feet.

[Ecotech]

Trading activity has also an element of value addition.

 

JNGupta

9331022920

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forum4ca is a Google Group of eServe online for the benefit of CA and other professionals. It is especially meant for written discussion & circulate information within group members. The mail may contain such research/advice/opinion/information/fact provided by any member and are subject to the accuracy and of the description of facts.The forum4ca, do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant facts. Further this Group’s Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Group.
 
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[Kalidas Ramaswami]

Rule 3(D) of the Companies( Audit and Auditors)Rules, 2014 provides that companies engaged in the trading of the medical devices of the kind specified in the rule with a turnover exceeding the limit prescribed shall be liable to cost audit.

In the instant case cost audit would not apply considering the activity caried on by the company.

regards

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From: foru...@googlegroups.com <foru...@googlegroups.com> on behalf of Ecotech <eco...@cal2.vsnl.net.in>
Sent: Saturday, December 17, 2016 9:30 AM
To: foru...@googlegroups.com
Subject: RE: [CA RUNGTA PD] APPOINTMENT OF COST AUDITOR

 

Trading activity has also an element of value addition.

 

JNGupta

9331022920

 

From: foru...@googlegroups.com [mailto:foru...@googlegroups.com] On Behalf Of nkejri...@gmail.com via forum4ca+bncBDLNXX6SS...@googlegroups.com
Sent: Thursday, December 15, 2016 1:16 PM
To: foru...@googlegroups.com
Subject: [CA RUNGTA PD] APPOINTMENT OF COST AUDITOR

 

Dear Freinds

 

My two clients have received show cause notice from Ministry of Corporate affairs (Cost Audit Branch) under section 148 of the Companies Act,2013 for not appointing Cost auditor.

 

My both the clients purely in Trading business (no value addition) and having turnover more than 100 crores.

 

One is importer  and trader of Base metals

 

Another is  importer and trader of Mobile Handsets .

 

Please guide me whether appointment of cost auditor is mandatory. 

 

 

--

Thanks and Regards
Neeraj

For Neeraj Kejriwal & Associates

Chartered Accountants 
56 Metcalfe Street
2nd Floor, Room No.2E
Kolkata- 700013
PH: (033) 40064000 
CELL: 9830897882
nkejriwal.ca@gmail.com

Gmail gmail.com Gmail is email that's intuitive, efficient, and useful. 15 GB of storage, less spam, and mobile access.

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