Section 3(1) in The Cost Accounting Records (Petroleum Industry) Rules, 2002
(1)Every company to which these rules apply shall, in respect of each of its financial year commencing on or after the 1st day of April, 2003 keep proper books of accounts relating to the utilisation of materials, labour and other items of cost in so far as they are applicable to any of the products or activities referred to in rule 2. The books of account, so maintained shall contain, inter-alia, the particulars specified in Schedule annexed to these rules and Proformae A to I mentioned in the said schedule:Provided that if the said company is manufacturing any other product(s) or is engaged in other activities in addition to the products or activities referred to in rule 2, the particulars relating to utilisation of materials, labour and other items of cost in so far as they are applicable to such other products or activities shall not be included in the cost of the product or activities referred to in rule 2.
