Manufacturing
Costing, cost records, cost audit, inventory control and GST for manufacturing units.
Manufacturers carry most of their capital in plant and inventory, and margins depend on how well material, labour and overhead costs are controlled. Many manufacturing companies also fall within the cost record and cost audit requirements of the Companies Act, 2013.
Typical requirements
Costing
- Product and process costing
- Machine hour rates and overhead absorption
- Standard costing and variance analysis
Statutory
- Cost records in Form CRA-1 above the turnover threshold
- Cost audit for covered products
- Inventory valuation under AS 2 / Ind AS 2
Tax
- GST on job work and inputs sent to job workers
- Inverted duty refunds
- E-way bills on inward and outward movement
Finance
- Working capital and stock statements for banks
- Capacity expansion feasibility
- Monthly MIS
Relevant services
Cost Audit
Statutory cost audit under section 148 of the Companies Act, 2013 and the Companies (Cost Records and Audit) Rules, 2014.
Cost Record Maintenance
Design and maintenance of cost accounting records in Form CRA-1 for companies covered by Rule 3 of the Cost Records and Audit Rules.
Product Costing
Unit-level product cost computation for pricing, quotations, margin analysis and inventory valuation.
Standard Costing
Setting material, labour and overhead standards and analysing variances against actual performance.
Stock & Inventory Audit
Physical verification and valuation of inventory for management or for banks under working capital arrangements.
Cost of Production Certificates (CAS-4)
Certification of cost of production under CAS-4 for captive consumption, transfers between units and GST valuation.
Local Content Certification (Make in India)
Certificates of local content for suppliers in public procurement under the Public Procurement (Preference to Make in India) Order, 2017.
GST Refunds
Refunds of accumulated credit on exports and inverted duty structure, and of excess cash balance.