BACA Intellect Series – CRA Edition 1
Appointment of Cost Auditor
Dear Professional Colleague
Appointment of Cost Auditor
Section 148 (3) of the Companies Act, 2013 prescribes that the Cost Audit shall be conducted by a Cost Accountant in practice who shall be appointed by the Board of Directors.
Due Date of Appointment of Cost Auditor
As per Rule 6(1) of the Companies (Cost Records & Audit) Rules, 2014, the Cost Auditor shall be appointed by the Company within one hundred and eighty days of the commencement of every financial year.
Intimation of Appointment to the Central Government
As per Rule 6(2) of the Companies (Cost Records & Audit) Rules, 2014, the Company shall file a notice of such appointment with the Central Government within a period of thirty days of the Board meeting in which such appointment is made or within a period of one hundred and eighty days of the commencement of the financial year, whichever is earlier, through electronic mode, in form CRA-2, alongwith the specified fee.
Extension of date of filing Intimation of Appointment
As per General Circular No.42/2014 issued by MCA dated 12th November, 2014, considering the non-availability of Form CRA-2 on MCA website, the date of its filing has been extended without any penalty/late fee upto 31st January, 2015. The form is expected to be available at MCA website soon.
Validity of Form 23-C already filed for Financial year 2014-15
As per General Circular No.42/2014 issued by MCA dated 12th November, 2014, the Companies who had already filed Form 23-C for the Financial Year 2014-15 before the Form CRA-2 was made mandatory on 30th June, 2014, need not file Fresh Form CRA-2 for the financial year 2014-15 .
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