Centre notifies cost accounting rules for 47 industries

NEW DELHI: Centre has notified cost accounting rules for 47 industries, including telecom, fertilisers and petroleum, under which all such companies will have to maintain records for each financial year.

The rules prescribe the manner in which cost records will have to be maintained, an official release said here on Monday.

The industries, covered under the rule so far, include aluminium, batteries, bulk drugs, dyes, electric cables and conductors, electric fans, mining and metallurgy, motor vehicle, steel plants, footwear, plantation products, textiles, nylon and paper.

"The rules aim at creating a data for industries to improve their performance in a competitive environment," the release added.