What is Cost Records?

Service Overview

1. Definition: Books of account relating to utilization of materials, labour and other items of cost for producing goods or providing services
Maintained to record how resources are consumed in production or service delivery
2. Format: Maintained in a structured format (Form CRA 1) for specified companies
Form CRA 1 captures detailed product-wise or service-wise cost data
3. Data captured: Input materials, employee costs, utilities, direct and indirect expenses
Detailed line items (quantity, rate, value) for accurate costing
4. Purpose: Supports statutory compliance and internal cost visibility for management
Used both for regulatory reporting and management decision making