Corporate Affairs Ministry extends deadline for filing details of cost auditor appointment

NEW DELHI: Corporate Affairs Ministry has extended the deadline for companies to submit details of cost auditor appointment in the new form that would be soon made available on the Ministry's website.

After considering the delay in making the Form 'CRA-2' available, the Ministry has now given companies time till January 31, 2015, to submit the same.

Under the Companies Act, 2013 - whose many provisions came into force from April this year - the appointment of a cost auditor should be informed to the Ministry by way of 'CRA-2'.

As per rules, the form has to be submitted in 30 days of a company's board making the appointment or within 180 days from commencement of a financial year, whichever is earlier.

"Considering delay in availability of Form CRA-2 on the MCA ( Ministry of Corporate Affairs) website, it has been decided to extend the date of filing of the said form without any penalty/late fee up to January 31, 2015," the Ministry said in a circular today.

CRA-2 form would be soon made available on the website, it added.

This clarification, with respect to Cost Records and Audit rules, has come in the wake of the Ministry receiving various representations on the issue.

"... some companies have filed Form 23C for appointment of cost auditor for the financial year 2014-15. It is clarified that such companies need not file form CRA-2 afresh for the financial year 2014-15," the circular said.