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Companies (cost records and audit) amendment rules, 2016

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Companies (cost records and audit) Amendment Rules, 2016

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Companies (cost records and audit) amendment rules, 2016

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  3. 3. Fshf,ft 3it{ siffr Jqq.r, 3r4i?fr Fd qr qqt +} stror; qqs-tr6-{or; Ts ic-rig * cffii * R(', ffi *t+ +qff d gs ris *- 3{tfi-fr 3q+4 t R('3raFq w d 1fi 6r ar r& f+:fr 'rd qr fdi t Tfuifud t, +i ga F-qdi * sfrrld-c rffi qrar anrrynt 8805; 8901 $ 8908 2. -d fc slk ed alaq: 8411 qrFd, rtrfrr-drsE ritt fugqt-d*.; 3601 t 3603; 9301 t 9306 4. mwfc q"t; 1*1 ffir+. (frq?fc qut t fi-a1; sqarr c{il; ffi-+- Er{s; 3T€Ird qr ffic+ zlfrqi; qfrdl; feq-a:rerd; 3601 t 3603 qrsn srfud, tGd dqn-fl s5rq+. wfu* dqT tGd {r€sr ftdaur wfu*; 8526 t-r 3il-{ st-q F@ciE d5q qrf,, e}dtTa qrd erFii t fu-c d qr il€t der t-$ qrd n iR-TS, F-trnr d-d cfren qr 3{fu+- Ffut 1*rff d Ffr(r rRr B-n?D s1-6ft qT €Tfirtr nBe;turt ziERT iqnrdtr +-*rqr srdr t; 8710 4flcccrf, ;qrs gffrqe, 1963 (1963 61 38) ffr qRr 473r * sfififr trtrs ria€ftit * frv vwn crfufi{ur SgRr Rffia ffi ails qr aeagt *, €iiq fr iiil4r6 E-dRr vcrfr €I ar rfr s&Htrrr, cr+fr-d, 6fif4, Hftar, Rqf{er, 6fu4, #ft4, d-drg 3ll-{ fuar a-qr$ S-sRi; aq a-fr fart 6. ernilq frETdq-dd sTrf,+fi EF-qra-6 srfu6-{ur :rfuF-qs, 2008 (2008 *T 27) * 3rtltd fuflraqaird :nE-* frG-qrn-fi crfu+{sr CcRr trffid 3ilr ffit r,cRr fr dr {fr 6ar$ urar+n utiu, aq+m v-dmd, et-g{qnr M, +1ru- {srq, €tTFr gBtrrs derT gtrd Er sqffi ffi darfrnr tu: aq +ff ohnt 9. d-t:it* g+qn; 7201 t 7229; 7301 s 7326 10. +lrff 3{RGq-q, 2013 cqrfrBfro-c t{r ,isqr 3r+ir+at qRdaarq: (2013 mT 18) fir rfldr-6 d (1X6) *- ili€erfr Ffm 3it{ 3r;q aq aS ilart 11. rqs 3TfuF-{fr, 1947 (1947 61 24) * 3fifrd'qfud r{s 4001 € 4017
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  5. 5. +qF-qi 23. Rrsn +dut ii ofi S d;qF-qi ffi 3iilnd # q-6K d 3fle dr& ffi tergt qr {rffhm +-aqrgr * fr('s{ fi'r tr$ rrn efiA-d a-fi t d ffi 6rr,irrr.Fr lewr a d; aqa-fr fart 24. gru vrr*; 0402 25. fil-rarerfi'; 3808 26. EdrFd-+' 3it{ qfiile{' 3901 c 3914; 3916 € 3921; 3925 27. erfi :ilr rqq' 4011 c 4013 28. -Frrrfr; 4801 t 4802 29. rtFd; 5004 d 5007; 5106 d 5113; 5205 $ 5212; 5303; 5310; 5401 t 5408; s501 d 5516 30. en!n; 7003 7011; d 7008; 7016 ?t lr;q aqfi;rft sik qiG-o srfu*: 8402 € 8487 32. tu€d qr I@F+' neffi; 8501 d 8507; 8511 t 8512; 8514 t 8515; 8517; 8525 t 8536; 8538 d 8547 ffifua frfucgr irfr{qt sT iicrcfl, zIT cg[gR, garlq :- (i) +lEr+' +f_cs; (ii) {4 Sgtu+ Fl_cs; (iii) fiqzd' (iv) Fgr :f,+-tr* rfs; (v) *a fr}|d,s; (vi) 5rt ara; :rrqrd 3it{ ffid 9018
  6. 6. (vii) sfi?frfrBn gE-di-ds; (viii) gcra cr m€r)ft-6 f{E-}sd' -r€; (ix) s-aq ia tc; (x) Ac id Rryfct; (xi) iffi+-ar ifrS-ra lrs' (xii) Fcr{Frar gc-ai -z-g; (xiii) :ffiAfu+ Sc-dqEiT *.rE('fi lc-dfu&.r; (xiv) tsf+T (3r€rr$ :itt er$; (xv1 {;g s-+-q 3ilfRds€, sT[ffs-d C-cd Bh-rd 3itr ifr{d{ t"--d Btr{c *-*r* Eares; (xvi) sTE(r+' ft-ffiatge Ffr-sr; (xvi i) vfeir fuA-+e* Fargs; (xviii) friar Ts qr HFcTr; (xix)fr 3ifi^d-d-d fgaqs; :itr (xx) ufqrd Ttas' (iv) :- (iii) F-{fr 4 * icF-{fr (3) h riE (ii) + caarq ffifua dE 3id:€erF-d ffiqr sR'4r, 3rr1{ :- '(iii) frfta rrcrd izie 6 ar-qq t 666 sqll+ * fr('fugd rcvrqa fr R-at g rfra * R(', "Sfid €qd *izit' qT Tfr 3{?i 6brr * E-€d fr{q, 2oo5 * F-{fr g f Eqr rrqr t' FJrlT 6 + icfi-{fr 1t) * ffifua sidfi 3id:€?irfr-d fuqr dn'4r, $qlq "c{g ffi FBtril fr srA t T6-}, ffi ffird * fr('drrrd *etqtqt-6 trr frfud sFfffr rik arrrd d€Tcrftqr-* t <'+'c-ffrur q*, *sr fu lqF-qq (16) fr ic|dq t, crrd f4-{n Jr('rn: (v) F-{rq (6) 6 5qfr+a (t) *. cail( ffifua icF-{ff srd:Rrfra fu-qr aRrrn 3{qtdr - "(1s) 5cfrwT (1) * sTefrd' F-g*a arra ffierfi {s 3TRrq .fir ("fi' gqFrrq;r gTad 6l-rrr i4' - 1*.; vuRerfr, eqFa qr w.f, trqtra * fr(' cr* t :frr gq $frhqfr, arrra sf* €*-d *€Tqrf, srfuF-qs, 1959 (1959 +.1 23) 3it{ {q* d6f, TA F-qdi lti Etut * a-ca figk * R('ffid;r€t t;
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  8. 8. "(5) rd6 drrrd *sm0rn-fi g{qfr qqs sc t 6€drqTftd fidt 3s ffiq Eq, m +5 +iaifua t, fir sa'rFd * r'o d 3i-€S Fd fr :rdfu * efmr *qff *. frdrr+ dsa 4i 3rr)ft-d +,trn 3it{ fr*erfi }i-d ffi frlqt6, B*s-d, TFfr iFdfud 3netor zn rCai', w h-{R 3it{ aio +t-mr" (ix) F-{fr 6 l', icG-{fi (6) + fr('ffifua Jcf{fi o6gnfra t+-qr dK'rn. 3nri-d_- "(6) {d A-qdi * sdrfr rctfi r*qfi arrra ffieil fidt fi ('+. cfr ffit cr-d ili fir dr{rs t fis frFf fir :r-dfu * sfrtr{ {sd'sfffds-c a--n6 3{K&Iq zn 3fdd q{ TUt ila-sft 91 sqs'f1-+w sftd +c-fi (4Fdrn$ 3it{ v-sdf a1 c-sruftq an-En ftSt sTrqr ji E6r{fr +-'{fir) F-{q, 2015 fr hfifr'c ttF t ffiq €qtrsrq Rlielr enqr d ysc fr3{R('-+ d. r;q* ({F€fud orqtilq :itr 6rq) ft{q, 20i4 fr Cfrfr"e €rs * €Tq Adq sr+n +l €]ffir" lsr.€. 1 /40/201 3-s(ra-Vl <l , ?ahl'1 -.-- -tu 1o> 1r"tr (3rryefc f$a anfaqrl €-"s-fd €frE, eTr{d Tr{mrt ftpqur: Ecr Fzrq errra * {rsqt, 3r+ncn*ur, e{H-2, Eis-3, Jc€iE (i) d qr.6r.ff. 425(3T) drts 30 qfr, 2014 6-4rt[ rfirflald ffi(r rKr e} :lt* sr.qr.fr. o1(3{) drfts 31 fr{i{r, 2014 3lk ut.+r.F. 486(3r) drts 12 Efl, 2o1s e-dnr rqfr d?irrd Ffi(' eRr qt
  9. 9. [To be published in the Gazette of India, Extraordinary, Part ll, Section 3, Sub-section (i)l GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION | , ,{'h New Delhi, the !.:.... July, 2016 G.S.R................. (E).- In exercise ofthe powers conferred by sub-sections (1) and(2) ofsection 469 and section 148 of the Companies Act, 2013 (1.8 of 201.3) (hereinafter referred as the Act), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules, 2014, namely:- (1) These rules may be called the Companies (cost records and audit) Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the official Gazette. In the Companies (cost records and audit) Rules, 2O14 (hereinafter referred to as the Principal R ules).- in rule 2, for clause (d), the following clause shall be substituted, namely:- "(d) "cost audit report" means the duly signed cost auditor's report on the cost records examined and cost statements which are prepared as per these rules, including attachment, annexure, qualifications or observations attached with or included in such report;" in rule 3, for Table (A) and Table (B), the following Tables shall be substituted, namely:- 1. 2. (i) (ii) ,.TABLE (A) Regulated Sectors sl. No. lndustry/ Sector/ Product/ Service Central Excise Tariff Act Heading (wherever applicable) 1. Telecommunication services made available to users by means of any transmission or reception of signs, signals, writing, images and sounds or intelligence of any nature and regulated by the Telecom Regulatory Authority of India under the Telecom Regulatory Authority of India Act, 7997 (24 of 1997); including activities that requires authorisation or license issued by the Department of Telecommunications, Government of India under Indian Telegraph Act, 1885 (13 of 1885); Not applicable.
  10. 10. 2. Generation, transmission, distribution and supply of electricity regulated by the relevant regulatory body or authority under the Electricity Act, 2003 (36 of 2003); Generation- 27t6; Other Activity- Not Applicable Petroleum products; including activities regulated by the Petroleum and Natural Gas Regulatory Board under the Petroleum and Natural Gas Regulatory Board Act,2006 (19 of 2006); 2709 ro 27L5; Other Activity- Not Applicable Drugs and pharmaceuticals; 29OL to 2942; 3001to 3006. Fertilisers; 3102 to 3105. 6. Sugar and industrial alcohol; L70'J.; 7703; 2207 . {8) Non-regulated Sectors 5t. No. Industry/ sector/ Product/ Service Central Excise Tariff Act Heading (wherever a pplica ble) 1. Machinery and mechanical appliances used in defence, space and atomic energy sectors excluding any ancillary item or items; Explanation. - Forthe purposes ofthis sub-clause, any company which is engaged in any item or items supplied exclusively for use under this clause, shall be deemed to be covered under these rules 8401; 8801 to 8805;8901 to 8908. 2. Turbo iets and turbo propellers; 8417 3. Arms, ammunitions and ExPlosives; 3601 to 3603;9301 to 9306. 4. Propellant powders; prepared explosives (other than propellant powders); safety fuses; detonating fuses; percussion or detonating caps; igniters; electric detonators; 3601 to 3603 Radar apparatus, radio navigational aid apparatus and radio remote control apparatus; 8526 6. Tanks and other armoured fighting vehicles, motorised, whether or not fitted with weapons and parts of such vehicles, that are funded (investment made in the company) to the extent of ninety per cent or more bv the Government or Government agencies; 8710 7. Port services of stevedoring, pilotage, hauling, mooring, re-mooring, hooking, measuring, loading and unloading services rendered by a Port in relation to a vessel or goods regulated by the Tariff Authority for Maior Ports; Not applicable. 8. Aeronautical services of air traffic management, aircraft operations, ground safety services, ground handling, cargo facilities and supplying fuel rendered by airports and regulated by the Airports Economic Not applicable
  11. 11. Regulatory Authority under the Airports Economic Regulatgry Authority of India Act,2OO8 (27 of 2OO8); 9. lron and Steel; 7 2Ol to 7 229;7 3O7 to 7326 10. Roads and other infrastructure proiects corresponding to para No. (1) (a) as specified in Schedule Vl ol the Companies Act, 2013 (18 of 2013); Not applicable. 11. Rubber and allied products; including products regulated by the Rubber Board constituted under the Rubber Act, 1.947 (XX|V of 1947); 4OOl to 4077 72. Coffee and tea; 0901 to 0902 13. Railway or tramway locomotives, rolling stock, railway or tramway fixtures and fittings, mechanical (including electro mechanical) traffic signalling equipment's of all kind; 8601 to 8608. L4, 2523; 6811 to 5812 15. Ores and Mineral products; 2502 to 2522; 2524 to 2526; 252a 6 2530;26Q1. to 26!7 Mineral fuels (other than petroleum), mineral oils 2707 to 2708 77. Base metals; 7 40, to 7 4O3; 7 4OS to 7 473; 74L9;7507 to 7508; 7601 to 7674; 78Ql to 7802; 1804; 78O6t 7901, to 7905; 79Ol; 8001; 8003; 8007; 8101 to 8113. 18. Inorganic chemicals, organic or inorganic compounds of precious metals, rare-earth metals of radioactive elements or isotopes, and organic chemicals; 2801 to 2853; 2901. to 2942; 3801 to 3807; 3402 to 3403; 3809 to 3824. 19. Jute and Jute Products; 5303, 5310 20. Edible Oil; 1507 to 1518 27. Construction Industry as per para No. (5) (a) as specified in Schedule Vt of the Companies Act, 2013 (18 of 2013); Not applicable. Health services, namely functioning as or running hospitals, diagnostic centres, clinical centres or test laboratories; Not applicable. 23. Education services, other than such similar services falling under philanthropy or as part of social spend which do not form part of any business; Not applicable. 24. Milk powder; o402 25. Insecticides; 3808 26. Plastics and polymers; 3901 to 3914; 3916 to 3921; 3925 27. Tyres and tubes; 4011 to 4013 24. Paper; 4801 to 4802. 29. Textiles; 5004 to 5007; 5106 to 5113; 52OS to 521,2; 5303; 5310; 5401 to 5408;5501 to 5516 30. Glass; 7003 to 7008j 7017;7076 31. Other machinery and Mechanical Appliances; 8402 to 8487
  12. 12. 32. Electricals or electronic machinery; 8501 to 8507:8511 to 8512: 8514 to 8515; 8517; 8525 to 8536: 8538 to 8547. 55. Production, import and supply or trading of following medical devices, namely:- (i) Cardiac stents; (ii) Drug eluting stents; (iii) Catheters; (iv) Intra ocular lenses; (v) Bone cements; (vi) Heart valves; (vii) Orthopaedic implants; (viii) Internal prosthetic replacements; (ix) Scalp vein set; (x) Deep brain stimulator; (xi) Ventricular peripheral shud; (xii) Spinal implants; (xiii) Automatic impalpable cardiac deflobillator; (xiv) Pacemaker (temporary and permanent); (xv) Patent ductus arteriosus, atrial septal defect and ventricular septal defect closure device; (xvi) Cardiac re-synchronise therapy ; (xvii) Urethra spinicture devices; (xviii) Sling male or female; (xix) Prostate occlusion device; and (xx) Urethral stents: 9018 to 9022 (iii) (iv) (v) in rule 4, in sub-rule (3), after clause (ii), following clause shall be inserted, namely:- "(iii) which is engaged in generation of electricity for captive consumption through Captive Generating PIant. For this purpose, the term "Captive Generating Plant" shall have the same meaning as assigned in rule 3 of the Electricity Rules, 2005"; in rule 6, in sub-rule (1), the following proviso shall be inserted, namely: - "Provided that before such appointment is made, the written consent of the cost auditor to such appointment, and a certificate from him or it, as provided in sub-rule (1.A), shall be obtained"; ln rule 6, after sub-rule (1), the following sub-rule shall be inserted, namely:- "(1A) The cost auditor appointed under sub-rule (1) shall submit a certificate that- (a) the individual or the firm, as the case may be, is eligible for appointment and is not disqualified for appointment under the Act, the Cost and Works Accountants Act, 1959 (23 of 1959) and the rules or regulations made thereunder; (b) the individual or the firm, as the case may be, satisfies the criteria provided in section 141 of the Act, so far as may be applicable; (c) the proposed appointment is within the limits laid down by or under the authority of the Act; and (d) the list of proceedings against the cost auditor or audit firm or any partner of the audit firm pending with respect to professional matters of conduct, as disclosed in the certificate, is true and correct.";
  13. 13. (vi) in rule 6, in sub-rule (3), the following provisos shall be inserted, namely: - "Provided that the cost auditor appointed under these rules may be removed from his office before the expiry of his term, through a board resolution after giving a reasonable opportunity of being heard to the Cost Auditor and recording the reasons for such removal in writing; Provided further that the Form CRA-2 to be filed with the Central Government for intimating appointment of another cost auditor shall enclose the relevant Board Resolution to the effect: Provided also that nothing contained in this sub-rule shall prejudice the right of the cost auditor to resign from such office of the company."; in rule 6, after sub-rule (3A), following sub-rule shall be inserted, namely:- 138) The cost statements, including other statements to be annexed to the cost audit report, shall be approved by the Board of Directors before they are signed on behalf of the Board by any of the director authorised by the Board, for submission to the cost auditor to report thereon"; in rule 6, for sub-rule (5), the following sub-rule shall be substituted, namely:- "(5) Every cost auditor shall forward his duly signed report to the Board of Directors of the company within a period of one hundred and eighty days from the closure of the financial year to which the report relates and the Board of Directors shall consider and examine such report, particularly any reservation or qualification contained therein."; in rule 6, for sub-rule (6), the following sub-rule shall be substituted, namely:- "(6) Every company covered under these rules shall, within a period of thirty days from the date of receipt of a copy of the cost audit report, furnish the Central Government with such report alongwith full information and explanation on every reservation or qualification contained therein, in Form CRA-4 in Extensible Business Reporting Language format in the manner as specified in the Companies (Filing of Documents and Forms in Extensible Business Reporting language) Rules, 2015 alongwith fees specified in the Companies (Registration Offices and Fees) Rules, 2014.". Joint Secretary to the Government of India Note.- The principal rules were published in the Gazette of India, Extraordinary, Part ll, Section 3, Sub- section (i), vrde number G.S.R. 425 (E), dated the 3oth June, 2Ol4 and amended v,de number G.S.R. 01(E), dated the 31" December, 2Ot4 and vide number G.S.R. 486 (E), Dated the 12th June, 2015. (vii) (viii) (ix) lFile No. 1/40/2013-Ct-Vl '*ffo{'"ta (Amardeep Singh Bhitia)

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