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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART SECTION MINISTRY OF CORPORATE AFFAIRS Notification New Delhi dated the 7 G.S.R. 870 (E). with clause (d) of sub and in supersession of the Cost Accounting Records (Petroleum Industry) Rules, 2002 vide G.S.R. 686(E), dated the 8 done before such supersession, the Central Government hereby makes the following rules, namely: 1. Records (Petroleum Industry) Rules, 2011. (2) They shall come into force on the date of their publication in the Official Gazette. 2. (a) “Act” means the Companies Act, 1956 (1 of 1956); (b) signed by a cost accountant in the specified form of compliance report; (c) “Cost Accountant” for the purpose of these rules means defined in clause (b) of sub Accountants Act, 1959 (23 of 1959) and who is either a permanent employee of the company or holds a valid certificate of practice under sub section 6 and who is deemed to be in practice under sub of that Act and includes a firm of cost accountants; (d) “Cost Accounting Standards” means the standards of cost accounting, issued by the Institute; (e) “cost records” means books of account relating to utilization of materials, labour and other items of cost as applicable to the production, processing, manufacturing or mining activities of the company; (f) “Form and other documents with the Central Government in the electronic mode; (g) “Form the compliance report; (h) “Generally Accepted Cost Accounting Principles” means the principles of cost accounting issued by the Institute; (i) “Institute” means the Institute of Cost and Works Accountants of India constituted under the Cost and Works Accountants Act, 1959 (23 of 1959); (j) “petroleum activities” means production, processing, manufacturing or mining of crude oil, gases [including Natural Gas, Compressed Natural Gas, Liquefied ‐ Petroleum Gas and regasified gases, etc. as defined in the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006)] or Biogas or any other petroleum products, or included under Chapter 27 of the Central Excise Tariff Act, 1985 (5 of 1986), including the intermediate products and articles or allied products or activities thereof and includes storage, transportation or distribution of crude oil or gases or biogas or any or all of the petroleum products; (k) “product” means any tangible or intangible good, material, substance, article, idea, know human, mechanical, industrial, chemical, or natural act, process, procedure, function, operation, technique, or treatment and is intended for use, consumption, sale, transport, store, delivery or disposal; (l) “product group” in relation to tangible products means a group of homogenous and alike products, produced from same raw materials and by using similar or same production process, having similar physical or chemical characteristics and common unit of measurement, and having same or similar usage or application; and in relation to intangible products means a group of homogenous and alike products or services, produced by using similar or same process or inputs, having similar characteristics and common unit of measurement, and having same or similar usage or application; (m) “turnover” means total turnover made by the company from the sale or supply of all products or services during the financial year and it includes any turnover from job work or loan license operations and the subsidies or grants or incentives received but does not include any non (n) all other words and expressions used in these rules but not defined, and defined in the Act and rules made under clause (d) of sub the Act shall have the same meanings as assigned to them in the Act or rules, as the case may be. 3. as defined under section 591 of the Act, which is engaged in the production, processing, manufacturing, or mining of petroleum activities and wherein, the aggregate value of net worth as on the last date of the immediately preceding financial year exceeds five crores of rupees; or wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds twenty crores of rupees; or wherein the company’s equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India: Provided that these rules shall not apply to a body corporate governed by any special Act. 4. units and branches thereof shall, in respect of each of its financial year commencing on or after the date of this notification, keep cost records and the books of account so ‐ maintained shall contain, inter mentioned in the Schedule annexed to these rules. (2) The cost records referred to in sub such manner so as to make it possible to calculate per unit cost of production or cost of operations, cost of sales and margin for each of its products and activities for every financial year on monthly or quarterly or half annual basis. (3) The cost records shall be maintained in accordance with the generally accepted cost accounting principles and cost accounting standards issued by the Institute; to the extent these are found to be relevant and applicable and the variations, if any, shall be clearly indicated and explained. (4) The cost records shall be maintained in such manner so as to enable the company to exercise, as far as possible, control over the various operations and costs with a view to achieve optimum economies in utilization of resources and these records shall also provide necessary data which is required to be furnished under these rules. (5) All such cost records and cost statements, maintained under these rules shall be reconciled with the audited financial statements for the financial year specifically indicating expenses or incomes not considered in the cost records or statements so as to ensure accuracy and to reconcile the profit of all product groups with the overall profit of the company and the variations, if any, shall be clearly indicated and explained. (6) All such cost records, cost statements and reconciliation statements, maintained under these rules, financial years immediately preceding a financial year or where the company had been in existence for a period less than eight years, in respect of all the preceding years shall be kept in good order. (7) Every person, referred to in sub Companies Act, 1956 (1 of 1956), shall take all reasonable steps to secure compliance by the company with the provisions of these rules in the same manner as he is liable to maintain accounts required under sub section 209 of the said Act. 5. submit a compliance report, in respect of each of its financial year commencing on or after the date of this notification, duly certified by a Cost Accountant, along with the Annexure to the Central Government, in the specified form. 6. compliance report referred to in rule 5 to the Central Government within a period of one hundred and eighty the compliance report relates. 7. compliance report shall be approved by the Board of Directors and certified by the ‐ Cost Accountant before submitting the same to the Central Government by the company. 8. provisions of these rules, he shall be punishable with fine, which may extend to five thousand rupees. (2) For contravention of these rules, (a) the company shall be punishable as provided under sub section 642 of the Act; and (b) every officer thereof who is in default, including the persons referred to in sub under sub 1956). 9. Rules, 2002, shall not in any way affect (a) any right, obligation or liabilities acquired, accrued or incurred thereunder; (b) any penalty, forfeiture or punishment incurred in respect of any contravention committed thereunder; and (c) any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and; any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if those rules had not been superseded. ‐ FORM documents with the Central Government [Pursuant to section 209(1)(d), 600(3)(b) of the Companies Act, 1956 and rule 2 of the Cost Accounting Records (Petroleum Industry) Rules, 2011] PART I Note: All fields marked in * are to be mandatorily filled. 1 (a) *Corporate identity number (CIN) or foreign company registration number of the company Pre (b) Global location number (GLN) of company 2 (a) *Name of the company (b) *Address of the registered office or of the principal place of business in India of the company (c) *E 3 (a) *Financial year covered by the compliance report From (DD/MM/YYYY) To (b) *Date of Board of directors’ meeting in which annexure to the compliance report was approved (DD/MM/YYYY) 4. (a) *Category of the cost accountant Individual Cost accountant’s firm (b) In case of individual, whether the cost accountant is in permanent employment of the company or in practice In Employment In Practice (c) *Name of the cost accountant or the cost accountant’s firm who has certified the cost records of the company (d) *Income tax permanent account number of the cost accountant or the cost accountant’s firm ‐ (e) *Membership number of cost accountant or cost accountant’s firm’s registration number (f) Address of the cost accountant or cost accountant’s firm (i) Line I Line II (ii) City (iii) State (iv) Country (v) Pin Code (g) *E cost accountant’s firm 5. Sno. Name of the Product or Service Group Unit Annual Net Sales Production (Quantity) (Quantity) (Value in Rupees) A Produced or Manufactured Product 1. 2. 3. etc. B Services Groups 1. 2. 3. etc. C Trading Activities ( 1. 2. 3. etc. D Other Income Total Income as per Financial Accounts PART Attachments: 1 Compliance report as per the Cost Accounting Records(Petroleum Industry) Rules, 2011 Attach 2 Optional attachments(s) – if any List of attachments ‐ Remove attachment Verification: To the best of my knowledge and belief, the information given in this form and its attachments is correct and complete. I have been authorised by the Board of directors’ resolution number date d (DD/MM/YYYY) to sign and submit this form. I am authorised to sign and submit this form. To be digitally signed by: Managing Director or director or manager or secretary (in case of an Indian company) or an authorised representative (in case of a foreign company) Digital Signatures *Designation *Director identification number of the director or Managing Director; or Income of the manager or of authorised representative; or Membership number, if applicable or income quote his/her income Director of the company Digital Signatures Director identification number of the director Modify Check Form Prescrutiny Submit This e and on the basis of statement of correctness given by the filing company ‐ FORM FORM OF COMPLIANCE REPORT [See rule 2, and rule 5] I or We ........................................... being in permanent employment of the company or in practice, and having been appointed as cost accountant under Rule 5 of the Cost Accounting Records (Petroleum Industry) Rules, 2011 of …........................................................... name of the company) registered office address of the company) examined the books of account prescribed under clause (d) of sub said Act, and other relevant records for the period/year ............................. year) 1 I or We have or have not obtained all the information and explanations, which to the best of my or our knowledge and belief were necessary for the purpose of this compliance report. 2 In my or our opinion, proper cost records, as per the Cost Accounting Records (Petroleum Industry) Rules, 2011 prescribed under clause (d) of sub Companies Act, 1956, have or have not been maintained by the company so as to give a true and fair view of the cost of production or operation, cost of sales and margin of all the products and activities of the company. 3 Detailed unit respect of the product groups or activities are or are not kept in the company. 4 In my or our opinion, the said books and records give or do not give the information required by the Companies Act, 1956 in the manner so required. 5 In my or our opinion, the said books and records are or are not in conformity with the generally accepted cost accounting principles and cost accounting standards issued by The Institute of Cost and Works Accountants of India, to the extent these are found to be relevant and applicable. Dated: this ____ day of _________ 20__ at _________________ ( signing this report SIGNATURE AND SEAL OF THE COST ACCOUNTANT (S) MEMBERSHIP NUMBER (S) NOTES: (i) Delete words not applicable. (ii) If as a result of the examination of the books of account, the cost accountant desires to point out any material deficiency or give a qualified report, he shall indicate the same against the relevant para. (iii) Briefly give your observations and suggestions, if any, relevant to the maintenance of cost ‐ accounting records by the company. (iv) Cost accountant may use separate sheet(s) for (ii) and (iii) above, if required. ‐ ANNEXURE TO THE COMPLIANCE REPORT [See rule 2 and rule 5] 1. GENERAL: a) Name of the company: b) Registered office address: c) Financial year to which the Compliance Report relates. 2. QUANTITATIVE INFORMATION: Sno. Name of the Product or Service Net Sales Group Unit Annual Production (Qty.) (Qty.) (Value in Rupees) A Produced or Manufactured Product Groups 1. 2. 3. etc. B Services Groups 1. 2. 3. etc. C Trading Activities (Product Groupwise) 1. 2. 3. etc. D Other Income Total Income as per Financial Accounts 3. RECONCILIATION STATEMENT: Net Margin (Profit or Loss) as per Cost Accounts (In Rupees) A. From Produced or Manufactured Product Groups B. From Services Groups C. From Trading Activities Total as per Cost Accounts Add: Incomes not considered in Cost Accounts (if any) Less: Expenses not considered in Cost Accounts (if any) Add/Less: Difference in Stock Valuation Profit or (Loss) as per Financial Accounts NOTES: (i) For produced or manufactured product groups, use the nomenclature as used in the Central Excise Act or Rules, as applicable. ‐ (ii) For services groups, use the nomenclature as used in the Finance Act or Central Service Tax Rules, as applicable. SIGNATURE NAME COST ACCOUNTANT (S) MEMBERSHIP NUMBER (S) SEAL WITH DATE "SCHEDULE” [See rule 4] PROFORMA ‘A’ Statement showing cost of Utilities like Water or Power etc Name of the Company Name of the Unit Name of the Utility Period I Quantitative Information Sno. Particulars Unit Current year Previous year 1 Installed Capacity 2 Quantity Produced 3 Capacity Utilization (%) 4 Quantity re 5 Quantity Purchased, if any 6 Self consumption including losses (to be specified) 7 Net Units Available II Cost Information Sno. Particulars Quantity Rate per Cost per Unit unit Amount Current Year Previous Year Unit Rs. Rs. Rs. Rs. 1 Materials Consumed (specify) Indigenous Imported Self Manufactured/Produced 2. Process Materials/ Chemicals (specify) 3. Utilities (specify): 4. Direct Employees Cost 5. Direct Expenses (specify) 6. Consumable Stores and Spares 7. Repairs and Maintenance 8. Depreciation 9. Lease rent, if any 10. Other overheads 11. Sub ‐ 12. Less: Credit, if any 13. Total cost (12 Apportionment: (cost centre 1. Cost Centre 1 2. Cost Centre 2 3. Cost Centre 3 Total PROFORMA ‘B’ Statement showing the details of Survey Cost Name of the Company Name of Geological Area Surveyed Period Cost Information: Sno. Particulars Brought Forward Current year Amount Total Amount Rs. Rs. Rs. 1. a) Explosives and Detonators b) Others (to be specified) 2 Direct Employees Cost 3. (a) Shot Hole Drilling (b) Contractual Payments (c) Others (to be specified) 4. (a) Data Processing cost (b) Data Interpretation Cost (c) Transport Expenses (d) Insurance (e) Land Expenses (f) Others (to be specified) 5 Repairs and Maintenance 6. (a) Acquisition (b) Processing (c) Interpretation (d) Transfer In or Transfer Out (e) Others (to be specified) 7. Royalty or Technical Know 8. Administration Overheads 9. Others (to be specified) 10. Expenditure Transfer In or Transfer Out 11. Total Survey Cost ‐ II Status: Sno. Particulars Total (Rs.) 1. Cost of Survey transferred to Producing Properties. 2. Cost of Survey directly charged off to Cost of Production 3. Cost of Survey carried forward 4. Others (to be specified) Total Survey Cost PROFORMA ‘C’ Statement showing Cost of Exploratory Drilling or Development Drilling Name of the Company Area under Exploration or development: Offshore or Onshore Name of the Block Period I Quantitative Information: Sno. Particulars Unit Current Year Previous Year 1. (a) Under Drilling (b) Under Testing (c) Dry (d) Hydrocarbon Bearing (e) Service Wells II Cost Information: Sno. Particulars Amount (Rs.) Brought forward Current Year Total 1. Preparatory Cost (a) Land (b) Approach Road (c) Civil Work (d) Others (To be specified) Total Preparatory Cost 2. Drilling – cost of Rig or Drill Ship Operation (a) Material Cost (i) Indigenous (ii) Imported (iii) Self Manufactured/Produced (b) Direct Employees Cost (c) Repairs and Maintenance (d) Other Drilling Overheads (e) Others (to be specified) Total ‐ Sno. Particulars Amount (Rs.) Brought forward Current Year Total 3. 4. Other Direct Expenses (a) Cementing (b) Logging (c) Mud (c) Others(to be specified) Total Direct Expenses 5. 6. 7. 8. 9. Depreciation (a) Rigs (b) Casing (c) Tubing (d) Drill Pipes (e) Well Head (f) Transfer In / Transfer Out (g) Others (to be specified) Total Depreciation 10. Administration Overhead 11. III Status: Sno. Particulars Exploration Drilling Development Drilling Total 1. Cost of successful wells transferred to producing property. 2. Service Wells transferred to Producing Properties. 3. Cost of abandoned or dry wells charged off 4. Cost of wells in progress carried forward 5. Others (to be specified) Total PROFORMA ‘D’ Statement showing the Cost of Finding Proved Reserves Established Name of the Company Period I Quantitative Information: Sno. Particulars Unit Current Year Previous Year 1. Number of wells for exploratory drilling ‐ Sno. Particulars Unit Current Year Previous Year 2. Number of wells for development drilling 3. Total Meterage drilled 4. Proved Reserves Established/Proved in terms of Oil equivalent II Cost Information: Sno. Particulars Amount Cost per Unit Current Year Previous Year Current Year Previous Year Rs. Rs. Rs. Rs. 1. Survey Cost (b/f Proforma B) 2. Exploration Drilling Cost (b/f Proforma C) 3. Development Drilling cost (b/f Proforma C) 4. Others (to be specified) 5. Total Finding Cost PROFORMA ‘E’ Statement showing Cost of intermediate Transportation of Crude Oil or Natural Gas Name of the Company Period I Quantitative Information: Sno. Particulars Unit Current Year Previous Year 1. Gross Production 2. Used for Mining Operation 3. Transit Loss 4. Unavoidable loss or flaring 5. Bottom Sediment and Water 6. Net Production 7. Net Production in appropriate oil equivalent terms 8. Transferred to Refinery or Extraction plant 9. Sales 10. Trunk Pipeline capacity for transportation to delivery point 11. Quantity throughput by pipeline ‐ II Cost Information: A. Lifting (Amount in Rupees) Sno. Particulars Amount Cost per Unit Current Year Previous Year Current Year Previous Year 1. Process Chemicals (specify) 2. Utilities (specify) 3. Direct Employee Cost 4. Direct Expenses 5. Consumable Stores and Spares 6. Repairs & Maintenance 7. Logistic Services or Transport Allocation 8. Well Services (a) Work over (b) Water Injection (c) Gas Injection 9. Other Overheads (a) Service Overheads (b) Administration Overheads (c) Others (to be specified) 10. Depreciation 11. Depletion 12. Other Costs (to be specified) 13. B. Cost of Conveying and Treating (Amount in Rupees) Sno. Particulars Amount Cost per Unit Current Year Previous Year Current Year Previous Year 1. Process Chemicals (specify) 2. Utilities (specify) 3. Direct Employee Cost 4. Direct Expenses 5. Consumable Stores and Spares 6. Repairs & Maintenance 7. Logistic Services or Transport Allocation 8. Other Overheads (a) Service Overheads (b) Administration Overheads (c) Others (to be specified) 9. Depreciation 10. Others (to be specified) 11. TREATING ‐ C. Cost of Transportation of Crude Oil / Natural Gas (Amount in Rupees) Sno. Particulars Amount Cost per Unit Current Year Previous Year Current Year Previous Year 1. Consumables (a) Pour Point Depressant (PPD) or Flow Improver (b) Others (specify) 2. Crude Oil Conditioning Plant Charges 3. Utilities (specify) 4. Direct Employee Cost 5. Direct Expenses 6. Consumable Stores and Spares 7. Repairs & Maintenance 8. Logistic Services or Transport Allocation 9. Depreciation 10. Other Overheads (a) Service Overheads (b) Administration Overheads (c) Others (to be specified) 11. Others to be specified 12. 13. Less: Amount received separately from customers, if any. 14. Net Cost PROFORMA ‘F’ Statement showing the Cost of Production of Crude Oil / Natural Gas Name of the Company Name and address of the Producing Unit Period 1. Quantitative Information: Sno. Particulars Unit Current Year Previous Year 1 Opening Stock 1a. Opening Stock in Tanks & Pipelines 1b. Opening Stock in Installations 2. Gross Production including Condensate 3. Less: Used for Mining Operation (Internal use) ‐ Sno. Particulars Unit Current Year Previous Year 4. Less: Transit Loss 5. Less 6. Less: Condensate quantity (Offshore) 7. Net Production (2 8. Transferred to Refinery or Extraction Plant 9. Sales 9a. Crude Oil / Natural Gas 9b. Naphtha spiked with crude oil 9c. Condensate spiked with crude oil 10 Closing Stock (1+7 10a. Closing Stock in Tanks & Pipelines 10b. Closing Stock in Installations 11. Trunk Pipeline capacity for Transportation to Delivery Point 12a. Quantity throughput by Pipeline 12b. Through Tankers 2. Cost Information: Sno. Particulars Amount Cost per Unit Current Year Previous Year Current Year Previous Year Rs. Rs. Rs. Rs. 1. Finding Cost (From Proforma D) 2. Lifting Cost (From Proforma E) 3. Cost of Conveying and Treatment (From Proforma E) 4. Cost of Exploratory or Development Drilling – Charged off 5. Cost of Transportation (from Proforma E) 6. Cost of Survey charged off, if any 7. Provision for Impairment 8. Provision for Abandonment 9. Overhead: (a) Project (b) Regional (c) Headquarter 10. Royalty on production, if any 11. Statutory levies on production, if any 12. Other Expenses (to be specified) 13. ‐ B Transferred to: Sno. Products Basis of apportionment of cost Actual quantity Equivalent quantity Value (Rs.) Transfer of Crude Oil / Natural Gas to: 1. Refinery or Extraction plant: 2. Sales 3. Related Party Transfer Total PROFORMA ‘G’ Statement showing Cost of Refining Name of the Company Name and address of the Fuel Refining Unit Name of Product Period a. Quantitative Information Sno. Particulars Unit Current Year Previous Year 1. Installed Capacity MMTPA* 2. Crude or Gas Refined MMT 3. Capacity Utilization % 4. Fuel and Loss (quantity) MT 5. Fuel Loss (%) % 6. Production of Joint Products: 1. Product 1 2. Product 2 3. Total *MMTPA: II Cost Information: Sno. Particulars Quantity Rate Amount Cost per Unit Current Year Previous Year Rs. Rs. Rs. Rs. 1. (a) Cost of captive crude oil or gas from (Specify Oil Fields separately) (b) Transportation Cost, if any. (c) Others (specify) (d) Total 2. Crude oil or gas Purchased (i) Indigenous (ii) Imported ‐ Sno. Particulars Quantity Rate Amount Cost per Unit Current Year Previous Year Rs. Rs. Rs. Rs. 3. Process material/Chemicals (specify) 4. Utilities (specify details) 5. Direct Employee Cost 6. Direct Expenses (Specify) 7. Consumable Stores & Spares 8. Repairs and Maintenance 9. Quality Control Expenses 10. Research and Development 11. Technical Know 12. Depreciation/Amortization 13. Other Production Overheads 14. Add/(Less) Stock Adjustments 15. Total 16. Less Credit for Wastage or By (Specify) 17. Total Cost B. Cost Apportioned to joint products: Sno. Products Basis of apportionment of cost Actual quantity Equivalent quantity Value (Rs.) Total cost Apportioned to: i) Sales a)(to be specified) b) c) ii) Related Party Transfer a) (to be specified) b) c) iii) Others a) (to be specified) b) c) Total PROFORMA ‘H’ Statement showing the Cost of Marketing Petroleum Products Name of the Company Name and address of the Fuel Refining Unit Name of Product Period I QUANTITATIVE INFORMATION: Sno. Particulars Unit Current year Previous year ‐ Sno. Particulars Unit Current year Previous year 1. Gross Quantity Produced 2. Quantity Purchased i) Indigenous ii) Imported iii) Inter 3. Total 4. Less, Losses 5. Balance 6. Add, Opening Stock 7. Less, Closing Stock 8. Net Available Quantity 9. a) Used for Mining Operation b) Captive Consumption c) Quantity Sold Total II COST INFORMATION: Sno. Particulars Unit Qty Rate Total Cost Cost per unit Current Year Previous Year Rs. Rs. Rs. Rs. 1. 2. i) Indigenous ii) Imported III) Inter 3. 4. Add: Opening Stock Less: Closing Stock 5. 6. a) Royalties on sales b) Cess c) Excise duty d) Sales tax e) Octroi f) Port Trust charges g) Others Total 6. Total Less, Used for Mining Operation Less, Captive Consumption Balance Sold 7. 8. 9. ‐ Sno. Particulars Unit Qty Rate Total Cost Cost per unit Current Year Previous Year Rs. Rs. Rs. Rs. 10. 13. 14. 15. any 16. benefits 17. etc.) 18. tax etc.) 19. prescribed by the Government / Statutory Regulatory Body etc. PROFORMA ‘I’ Statement showing the Cost of Operations/Service/Sub Petroleum Products through Petroleum Product Pipeline, Natural Gas Pipeline and City Gas Distribution Net Work Name of the Company Name and address of the Plant/Unit Entry Point (specify) Exit Point (specify) I. QUANTITATIVE INFORMATION: Sno. Particulars Unit Current year Previous year 1. Pipeline Capacity for Natural Gas Processed Mmscmd/MM TPA 2. Average Calorific Value (NCV) Specify unit 3. Number of zones, if any 4. Approved Zone (a) Zone 1 (b) Zone 2 (c) Others specify Rupees/mmbt u/MT 5 Number of Entry Points Nos 6 Number of Exit Points Nos 7 Number of Compressor/Pumping Stations Nos ‐ Sno. Particulars Unit Current year Previous year 8 Actual Volume Transported MMCmd/MMT PA 9. Capacity Utilisation % Mmbtu Mmscmd Million Metric British Thermal Units Million Std Cubic Meter per day II COST INFORMATION: Sno. Particulars Unit Qty Rate Total Cost Cost per unit Current Year Previous Year Rs. Rs. Rs. Rs. 1. (specify) (a) Indigenous (b) Imported (c) Others 2. (a) Natural Gas (b) Diesel (c) Lube /Oil/Grease 3. Utilities (specify) 4. Direct Employee cost 5. Direct Expenses (a) Jobs/Service on Contract (b) Out sources Hired Services 6. Repairs and Maintenance 7. Research & Development 8. Lease Rent, if any 9. Depreciation 10. Service/Operation Overheads 11 Less: Credit for Recoveries/Miscellaneous Income 12 Total Cost [1 to 10 –(11)] 13. Administrative Overheads 14. Cost of Operation (12+13) 15. Other Cost (Specify) 16. Operation Revenue Information 17. Zonal Revenue (a) Zone 1 (b) Zone 2 (c ) Others (specify) 18. Revenue from Dedicated Lines 19. Other Revenue (excluding Statutory Levies, if any) ‐ Sno. Particulars Unit Qty Rate Total Cost Cost per unit Current Year Previous Year Rs. Rs. Rs. Rs. 20. 21. 22. Margin/mmbtu for NGPL and for Dedicated Pipelines 25 PROFORMA ‘J’ Statement showing Activity Name of the company: (Amount in Rupees) Sno. Particulars Gross Block Depreciation Net Block Cost as at beginning of the year Additions / Transfers during the year Deductions / Transfer during the year Total Cost at the end of the year As at beginning of the year For the year On deductions during the year Total at the end of the yea As at beginning of the year As at the end of the year A. Survey (specify) 1. 2. etc B. Exploration//Development (off shore /on shore separately) 1. 2. etc C. Crude Processing 1. 2. etc D. Refining 1. 2. etc E. Marketing F. Transporting Separately for each Natural Gas Pipeline / Dedicated Pipeline / City Gas Distribution Network 1. 2. G. Others (specify) H. Grand Total (A to G) 26 PROFORMA ‘K’ Statement showing Allocation and Apportionment of Total Expenses and Income of the Company as per Profit & Loss Account Name of the company Period (Amount in Rupees) Sl. No. Particulars Total Expenses as per Audited Financial Accounts Utilities (separately for each) Survey Exploration Transporta ‐ Refining Production Centres (separately for each centre) Plant Overheads Refinery Overheads Administra ‐ Overheads Marketing / Selling & Distribution Non Cost Expenses 1. Direct Materials (specify) 2. Process Materials (specify) 3. Chemicals (specify) 4. a) Fuel b) Own Production c) Natural Gas d) Refinery Own Gas e) Water Charges 5. a) Salaries, Wages, Bonus Etc. b) Contribution to Provident & Other Funds c) Staff Welfare Expenses 6. Consumable Stores and Spares 7. a) Plant & Machinery b) Buildings c) Others 8. Other Direct Expenses (specify) 27 Sl. No. Particulars Total Expenses as per Audited Financial Accounts Utilities (separately for each) Survey Exploration Transporta ‐ Refining Production Centres (separately for each centre) Plant Overheads Refinery Overheads Administra ‐ Overheads Marketing / Selling & Distribution Non Cost Expenses 9. Rent 10. Insurance 11. Rates & Taxes 12. Payment To Auditors 13. Travelling & Conveyance 14. Communication Expenses 15. Printing & Stationery 16. Bank Charges 17. Security Force Expenses 18. Sales Promotion Expenses 19. Handling Expenses 20. Miscellaneous Expenses 21. Transportation Charges 22. Quality Control 23. Royalty or Technical Know 24. Technical Assistant Fees 25. Other Statutory Levies 26. Cess 27. Lease Rent 28. Research and Development 30. Packing Expenses 31. Borrowing Charges 32. Loss on Assets Sold, Lost or Written Off 33. Exchange Rate Fluctuations 28 Sl. No. Particulars Total Expenses as per Audited Financial Accounts Utilities (separately for each) Survey Exploration Transporta ‐ Refining Production Centres (separately for each centre) Plant Overheads Refinery Overheads Administra ‐ Overheads Marketing / Selling & Distribution Non Cost Expenses 34. Provision For Doubtful Debts, Advances, Claims & Obsolescence 35. Provision for Contingencies 36. Depreciation or Depletion 37. Total Expenses 38. Add, Opening Stock in Process Less, Closing Stock in Process 39. Less, Credit for Recoveries 40. Less, Self Consumption, if any, 41. Add, Opening Stock – Finished Less, Closing Stock – Finished 42. 43. Excise Duty Paid 44. 45. Excise Duty 46. Excise Duty Recovered 47. Add: Export Benefit, if any Profit as per Profit & Loss Account ‐ PROFORMA ‘K Statement showing Apportionment of Overheads Name of the Company Period Cost Centres Plant Overheads Refinery Overheads Administration Overheads Marketing / Selling & Distribution Other Overheads (specify Rs. Rs. Rs. Rs. Rs. Total as per Proforma K Allocated Utilities (specify) Apportioned Overheads, if any Total Overheads Apportioned to Cost Centres (specify) 1. 2. 3. 4. Others (specify) Total PROFORMA ‘L’ Statement of Profit Reconciliation (for the company as a whole) Name of the Company Period S .No. Particulars Current Year Previous Year Rs. Rs. 1. Profit or Loss as per Cost Accounting Records a) For Product Groups under these Rules b) For the Product Groups outside these Rules 2. Add: Incomes not considered in cost accounts: (a) Specify (b) ‐ S .No. Particulars Current Year Previous Year Rs. Rs. Total 3. Less: Expenses not considered in cost accounts: (a) Specify (b) Total 4. Add: Overvaluation of Closing Stock in Financial Accounts 5. Add: Undervaluation of Opening Stock in Financial Accounts 6. Less: Undervaluation of Closing Stock in Financial Accounts 7. Less:: Overvaluation of Opening Stock in Financial Accounts 8. Adjustments for others, if any (specify 9. Profit or Loss as per Financial Accounts Notes: 1 Separate Cost statement shall be prepared in relevant proforma for: (a) each major utility having significant impact on cost, whenever such utility is functionally independent and not forming part of composite unit for exploration, production, refining, transportation, etc activity wise. (b) Exploratory Drilling or Development Drilling cost. (c) Onshore or Off (d) Crude Oil or Natural Gas cost. (e) Each major petroleum product or activity or sub activity thereof. (f) Transportation of petroleum products for each Natural Gas Pipeline or dedicated pipeline or city gas distribution net work or cost of service or sub 2 The column for “Brought forward” under the head “Amounts (Rs)”of Cost Information under Proforma ‘C’ stands for amount charged towards wells previous year 3 Method of accounting followed e.g. successful effort method or full cost method to incorporate unit specific features, if any, indicating reasons thereof shall be indicated under relevant proforma. 4 If a product emerging from one or other products covered under the rule, separate cost statement of production under relevant proforma (suitably modified, if necessary) shall be maintained for each process or products such as manufacture of base oils. 5 Wherever any company is engaged in transporting of crude oil or natural gas or other petroleum products, separate details as per item ‘C’ of Proforma ‘E’ shall be prepared in respect of such transportation activity with suitable modifications, wherever required. ‐ 6 If separate charges are levied from customers for transporting of Crude Oil or Natural Gas from CTF to delivery point, only the net cost shall be shown against item 5 under cost information of Proforma ‘F’. 7 In case a joint product is sold without further processing details in regard to quantity sold, cost of sales and average sales realization etc shall be indicated in appropriate cost statement and the basis on which cost is apportioned to joint products shall be indicated therein. If these are further processed, separate cost statement under relevant proforma or any other form as thereof shall be prepared. 8 In case of value added products produced by using any of the intermediary product or finished product out of the refining process, separate cost statement of such value added products shall be prepared in suitable form. 9 Sales Realization for quantity sold at price notified or fixed by Government if any and at the price fixed by company shall be indicated separately. 10 Details of fixed assets employed shall be indicated activity wise in Proforma ‘J’ and reconciled with financial accounts and the details of apportionment of depreciation to respective activity be specified separately in case of common fixed assets; all items of income, expenditure and margin shall be reconciled with the financial accounts for the relevant period/year as per Proforma ‘K’ and ‘I’. 11 The different types of Utilities should be shown distinctly under Proforma ‘K’ and separate cost statement for each of these utilities including apportionment thereof shall be prepared as per Proforma ‘A’. 12 The Overheads and items of expenses shown under Proforma ‘K’ are indicative and the classification of the Overheads shall be shown separately depending on the operation of the Company and its business process. 13 The basis of apportionment of different Overheads to the utilities and production cost centres shall be clearly indicated. 14 The items of cost shown in the Proforma are indicative and the same shall be reflected keeping in mind materiality of each item of cost in the product and activity group. 15 The cost accounting policy and the basis of allocation and apportionment of different items of cost to the user departments or cost centres as well as its recovery in the final product(s) to be recorded in a separate statement, which would be an integral part of these records under the following heads: a) Utilities – separately for each utility. b) Overheads – classified under Factory or Plant or Refinery Overheads, Administration Overheads, Marketing and Selling and Distribution Overheads. c) Depreciation, d) Valuation of Stocks e) Treatment and valuation of Bye [F. No. 52/7/CAB B.B.GOYAL Adviser (Cost)
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