This document outlines new Cost Accounting Records (Pharmaceutical Industry) Rules, 2011 that will apply to pharmaceutical companies in India. Key points:
- The rules replace previous rules from 1974 and 1988 and will apply to companies meeting certain criteria based on net worth, turnover, or stock exchange listing.
- Affected companies must maintain cost records according to cost accounting standards and reconcile them with financial statements.
- An annual compliance report certified by a cost accountant must be submitted to the government within 180 days of the financial year end.
- The compliance report and its annexure must be approved by the company's board of directors and certified by the cost accountant.
This document outlines new Cost Accounting Records (Pharmaceutical Industry) Rules, 2011 that will apply to pharmaceutical companies in India. Key points:
- The rules replace previous rules…