Section 2(o) in The Companies (Cost Accounting Records) Rules, 2011
(o)"Production Activity" includes any act, process, or method employed in relation to -(i)transformation of tangible inputs (raw materials, semi-finished goods, or sub-assemblies) and intangible inputs (ideas, information, know how) into goods or services; or(ii)manufacturing or processing or mining or growing a product for use, consumption, sale, transport, delivery or disposal; or(iii)creation of value or wealth by producing goods or services.
