Section 28 in The Companies (Cost records and audit) Rules, 2014
28. Cost Statements.-
(a)[ Cost statements (monthly, quarterly and annually) showing quantitative information in respect of each goods or service under reference shall be prepared showing details of available capacity, actual production, production as per excise records, production as per GST records, capacity utilisation (in house), stock purchased for trading, stock and other adjustments, quantity available for sale, wastage and actual sale, total quantity of outward supplies as per cost records and total outward supplies as per GST records during current financial year and previous year.] [Substituted by Notification No. G.S.R. 792(E), dated 15.10.2019 (w.e.f. 30.6.2014).](b)Such statements shall also include details in respect of all major items of costs constituting cost of production of goods and services, cost of sales of goods or services and margin in total as well as per unit of the goods and services. The goods or services emerging from a process, which forms raw material or an input material or service for a subsequent process, shall be valued at the cost of production or cost of service up to the previous stage.(c)[ Cost statements (monthly, quarterly and annually) in respect of reconciliation of indirect taxes showing details of total clearances of goods or services, assessable value/ taxable value, duties or taxes paid, CENVAT or VAT or Service Tax or GST Credit utilised, duties or taxes recovered and interest or penalty paid.] [Substituted by Notification No. G.S.R. 792(E), dated 15.10.2019 (w.e.f. 30.6.2014).](d)If the company is operating more than one plant, factory or service centre, separate cost statements as specified above shall be prepared in respect of each plant, factory or service centre.(e)Any other statement or information considered necessary for suitable presentation of costs and profitability of goods or services produced by the company shall also be prepared.
