Cost Audit in case of companies is compulsory if ........

Costing - Phase (I & II) Overview of Cost and Management Accounting

Cost Audit in case of companies is compulsory if:

Companies engaged in the production of goods or providing services specified in Table A, having annual turnover of company Rs. 50 crores or more in preceding financial year.

Companies engaged in the production of goods or providing services specified in Table B, having annual turnover of company Rs. 100 crores or more in preceding financial year.

Both 1 & 2

Companies engaged in the production of goods or providing services specified in Table B, having annual turnover of company Rs. 75 crores or more in preceding financial year

.None of the above

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Explanation:

As per Section 148 of The Companies Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014, Companies engaged in the production of goods or providing services specified in Table A-regulated sector and Table-B -non regulated sectors, having annual turnover of Rs. 50 crores or more and 100 crores or more in preceding financial year respectively, are required to have cost audit compulsorily.