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Union of India - Section

Section 3 in The Companies (Cost records and audit) Rules, 2014

3. [ Application of Cost Records. [Substituted by Notification No. G.S.R. 1 (E), dated 31.12.2014 (w.e.f. 30.6.2014).]

- For the purposes of sub-section (1) of Section 148 of the Act, the class of companies, including foreign companies defined in clause (42) of Section 2 of the Act, engaged in the production of the goods or providing services, specified in the Table below, having an overall turnover from all its products and services of rupees thirty five crore or more during the immediately preceding financial year, shall include cost records for such products or services in their books of account, namely:-[Table]
(A)Regulated Sectors
Sl. No. Industry/ Sector/ Product/ Service [Customs Tariff Act Heading] [Substituted 'Central Excise Tariff Act Heading' by Notification No. G.S.R. 1526(E), dated 20.12.2017 (w.e.f. 30.6.2014).](whereverapplicable)
1. Telecommunication services made available tousers by means of any transmission or reception of signs,signals, writing, images and sounds or intelligence of any natureand regulated by the Telecom Regulatory Authority of India underthe Telecom Regulatory Authority of India Act, 1997 (24 of 1997);including activities that requires authorization or license issuedby the Department of Telecommunications, Government of Indiaunder Indian Telegraph Act, 1885 (13 of 1885); Not applicable
2. Generation, transmission, distribution andsupply of electricity regulated by the relevant regulatory bodyor authority under the Electricity Act, 2003 (36 of 2003); Generation- 2716; Other Activity - Not Applicable
3. Petroleum products; including activitiesregulated by the Petroleum and Natural Gas Regulatory Board underthe Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of2006); 2709 to 2715; Other Activity - Not Applicable
4. Drugs and pharmaceuticals; 2901 to 2942; 3001 to 3006.
5. Fertilisers; 3102 to 3105.
6. Sugar and industrial alcohol; 1701; 1703; 2207.
(B)Non-regulated Sectors
Sl. No. Industry/ Sector/ Product/ Service [Customs Tariff Act Heading] [Substituted 'Central Excise Tariff Act Heading' by Notification No. G.S.R. 1526(E), dated 20.12.2017 (w.e.f. 30.6.2014).](whereverapplicable)
1. Machinery and mechanical appliances used in defence, space andatomic energy sectors excluding any ancillary item oritems;Explanation. - For the purposes of this sub-clause, anycompany which is engaged in any item or items suppliedexclusively for use under this clause, shall be deemed to becovered under these rules 8401; 8801 to 8805; 8901 to 8908.
2. Turbo jets and turbo propellers; 8411
3. Arms, ammunition's and Explosives; 3601 to 3603; 9301 to 9306.
4. Propellant powders; prepared explosives (other than propellantpowders); safety fuses; detonating fuses; percussion ordetonating caps; igniter's; electric detonators; 3601 to 3603
5. Radar apparatus, radio navigational aid apparatus and radioremote control apparatus; 8526
6. Tanks and other armored fighting vehicles, motorized, whetheror not fitted with weapons and parts of such vehicles, that arefunded (investment made in the company) to the extent of ninetyper cent or more by the Government or Government agencies; 8710
7. Port services of stevedoring, pilotage, hauling, mooring, re-mooring, hooking, measuring, loading and unloading[services rendered for a Port in relation to a vessel or goods regulated by the Tariff Authority for Major Ports under the Major Port Trusts Act, 1963 (38 of 1963)] [Substituted 'services rendered by a Port in relation to a vessel or goods regulated by the Tariff Authority for Major Ports' by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).]; Not applicable.
8. Aeronautical services of air traffic management, aircraftoperations, ground safety services, ground handling, cargofacilities and supplying fuel rendered[at the airports] [Substituted 'by airports' by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).]and regulatedby the Airports Economic Regulatory Authority under the AirportsEconomic Regulatory Authority of India Act, 2008 (27 of 2008); Not applicable
9. Iron and Steel; 7201 to 7229; 7301 to 7326
10. Roads and other infrastructure projectscorresponding to para No. (1) (a) as specified in Schedule VI ofthe Companies Act, 2013 (18 of 2013); Not applicable.
11. Rubber and allied products; including productsregulated by the Rubber Board constituted under the Rubber Act,1947 (XXIV of 1947); 4001 to 4017
12. Coffee and tea; 0901 to 0902
13. Railway or tramway locomotives, rolling stock,railway or tramway fixtures and fittings, mechanical (includingelectro mechanical) traffic signaling equipment’s of allkind; 8601 to 8608,[8609] [Inserted by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).].
14. Cement; 2523; 6811 to 6812
15. Ores and Mineral products; 2502 to 2522; 2524 to 2526; 2528 to 2530; 2601 to 2617
16. Mineral fuels (other than Petroleum), mineral oils etc.; 2701 to 2708
17. Base metals; 7401 to 7403; 7405 to 7413; 7419; 7501 to 7508; 7601 to 7614;7801 to 7802; 7804; 7806; 7901 to 7905; 7907; 8001; 8003; 8007;8101 to 8113.
18. Inorganic chemicals, organic or inorganiccompounds of precious metals, rare-earth metals of radioactiveelements or isotopes, and organic chemicals; 2801 to 2853; 2901 to 2942; 3801 to 3807; 3402 to 3403; 3809to 3824.
19. Jute and Jute Products; 5303,[5307] [Inserted by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).], 5310
20. Edible Oil; 1507 to 1518
21. Construction Industry as per para No. (5) (a) asspecified in Schedule VI of the Companies Act, 2013 (18 of 2013); Not applicable.
22. Health services, namely functioning as orrunning hospitals, diagnostic centres, clinical centres or testlaboratories; Not applicable.
23. Education services, other than such similarservices falling under philanthropy or as part of social spendwhich do not form part of any business; Not applicable.
24. Milk powder; 0402
25. Insecticides; 3808
26. Plastics and polymers; 3901 to 3914; 3916 to 3921; 3925
27. Tyres and tubes; 4011 to 4013
28. [Pulp and Paper] [Substituted 'Paper' by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).]; [4701 to 4704] [Inserted by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).]4801 to 4802.
29. Textiles; 5004 to 5007; 5106 to 5113; 5205 to 5212; 5303 to[5307] [Inserted by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).]; 5310; 5401 to5408; 5501 to 5516
30. Glass; 7003 to 7008; 7011; 7016
31. Other machinery and Mechanical Appliances; 8402 to 8487
32. Electricals or electronic machinery; 8501 to 8507; 8511 to 8512; 8514 to 8515; 8517; 8525 to 8536;8538 to 8547.
33. Production, import and supply ortrading 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 prostheticreplacements;(ix) Scalp vein set;(x) Deep brain stimulator;(xi) Ventricular peripheral shud;(xii) Spinal implants;(xiii) Automatic impalpable cardiac[defibrillators] [Substituted 'deflobillator' by Notification No. G.S.R. 1157(E), dated 3.12.2018 (w.e.f. 30.6.2014).];(xiv) Pacemaker (temporary andpermanent);(xv) Patent ductus arteriosus,atrial septal defect and ventricular septal defect closuredevice;(xvi) Cardiac re-synchronisetherapy ;(xvii) Urethra spinicture devices;(xviii) Sling male or female;(xix) Prostate occlusion device;and(xx) Urethral stents: 9018 to 9022]
Provided that nothing contained in serial number 33 shall apply to foreign companies having only liaison offices.Provided further that nothing contained in this rule shall apply to a company which is classified as a micro enterprise or a small enterprise including as per the turnover criteria under sub-section (9) of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).