The Ministry of Corporate Affairs (MCA) Vide Notification dated 15th October 2019 has published the Companies (Cost Records and Audit) Amendment Rules, 2019 to further amend the Companies (Cost Records and Audit) Rules, 2014, which shall be effective from 1st April 2018.
The Amendment to the Annexure has brought substantial alterations to Form CRA-1 (Particulars relating to the Items of cost to be included in the books of Accounts) and Form CRA-3 which relates to Cost Audit Report under the Companies (Cost Records and Audit) Rules, 2014.
Further as per the amended rules, in respect of those companies who have already filed their Cost Audit Report in form CRA-4 (Form for filing cost Audit Report with the Central Government.) for the financial year 2018-19 with the Central Government prior to this notification, such companies are not required to file their Cost Audit Report for the said financial year.
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