Section 73 in The Meghalaya Co-operative Societies Rules
73. Audit fee.
(1)For the purpose of audit of a registered society, the co-operative year shall begin on the 1st July and end on the 30th June each year and a physical stock taking shall be done by every appropriate society to ascertain the actual value of the stock as it stands on the 30th June.(2)Every registered society, shall be assessed audit fees at the rate and in the manner as prescribed in sub-rules (3) and (4) of this rule and such fees shall be collected at the time of audit for the year to which the audit relates.(3)Audit fees of a registered society shall be assessed on the net working capital of the society as it stood at the close of the previous year which shall include (a) share capital (b) deposits (c) borrowings (d) undistributed profits and all other funds of the society utilised in the business of the society.(4)Audit fees of registered society or a class of registered societies shall be assessed at the following rates :(a)Primary Credit Societies - at annas 8 per one hundred rupees subject to a maximum of Rs. 150.(b)All other co-operative societies - at Rs. 1 per one hundred rupees subject to a maximum of Rs. 5,000 unless the society has regional branches in which case the maximum shall be Rs. 10,000.(5)The Registrar may at his discretion for reasons to be recorded in writing remit wholly or in part the audit fees payable by any registered society under these Rules.
