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REGISTERED No. D-(D)-72

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (i)

PUBLISHED BY AUTHORITY

No. 337] NEW DELHI, MONDAY, DECEMBER 29,1975/PAUSA 8,1897

Separate paging is given to this Part in order that it may be filed

as a separate compilation.

MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS

(Department of Company Affairs)

NOTIFICATION

New Delhi, the 29th December 1975

COST ACCOUNTING RECORDS (JUTE GOODS) RULES, 1075

G.S.R. 590 (E).—In exercise of the powers conferred by sub-section (1) of section 642, read with clause (d) of sub-section (1) of Section 200 of the Com- panies Act. 1956 (1 of 1956), the Central Government hereby makes the following r u l e, namely.—

1 Short title and commencement.—(1) These rules may be called the Cost Accounts Records (Jute Goods) Rules, 1975.

(2) They shall come into force on the 1st day of January, 1976.

2. Application. -They shall apply to every company engaged in the production, processing or manufacture of lute goods.

3. Definition. In these rules unless the context otherwise requires, " 'Jute Goods' means yarn, twin, fabrics or any other product made wholly from, or containing not less than 50 per cent by weight of, jute including bimlipattam jute or mesta fibres".

( 2435 )

4 Malatenance of records. (1) Every company to which these rules apply shall in respect of each of its financial year commencing on or after the commence- ment of these rules, keep proper books of account containing inter alia the parti- culars specified in Schedules I and II annexed to these rules relating to the utilisa- tion of materials, labour and oUe. ue.ns of cost in so far as they are applicable to jute goods.

Provided that if the said company Is manufacturing any other products or engaged in other activities In addition to jute goods, the particulars relating to the utilisation of materials, labour and other items of cost in so far as they are appli- cable to such other products or activities shall not be included in the cost of such jute goods.

(2) The books of account referred to in sub-rule (1) shall be kept in such a way as to make it possible to calculate the cost of production and cost of sales of each quality of jute goods during a financial year (hereinafter referred to as the relevant period) from the particulars entered therein. Such books of account and the proformae specified In Schedule II shall be completed within ninety days from th% end of the financial year of the company to which they relate.

(3) It shall be the duty of every person referred to in sub-section (6) and sub- section (7) of section 209 of the Companies Act, 1956 (1 of 1956) to take all reason- able steps to secure compliance by the company with the provisions of sub-rules (1) end (2) In the same manner as they are liable to maintain financial accounts re- quired under sub-section (1) of section 209 of the said Act.

5. Penalty.—If a company contravenes the provisions of rule 4, the company and every officer thereof who is in default, including the persons referred to in sub- rule (3) of that rule shall be punishable with fine which may extend to five hundred rupees and, where the contravention is a continuing one, with a further fine which may extend to fifty rupees for every day after the first during which such contravention continues,

SCHEDULE—I

(See rule 4)

I, Materials:

(a) Raw Materials.— (1) Raw Jute: Proper records shall be maintained showing quantity and cost of ail the various categories of raw jute quality-wise as per mill grading with corresponding market classification such as Tossa Top. Tossa L.G., Tossa S. G., Tossa S. Mid,, Tossa Mid., Tossa Bot, Tossa B Bot Tossa X- Bot'-' White Top, White S. Mid, White Mid., White Bot, Whii/4 B. Bot, White X. Bot, Mesta Top, Mcsta S. Mid, Mesta Mid, Mesta Bot, Mesta B. Bot, Mesta X Bot and cuitmg etc., procured at diiierent purchasing centres or at factory gate. Records shail contain such details os to eaable the company to determine quantity and cost of receipts source-wise (including all direct charges incurred upto the works) issues and balances. The records shall also indicate the deductions made from contract prices on account of higher moisture content, inferior quality and for other reasons. Detailed records showing the contracts entered into for purchase and sale of the various qualities and quantities of raw jute shall also be maintained, The data In respect of raw jute shall be maintained in such a manner as to enable the company to furnish the necessary particulars in Proforma 'A'.

The rate charged for raw jute consumed for the manufacture of different counts of yarn required for jute goods like sacking, hesslan, carpet backing, sale yarn, twine or for any other product shall be disclosed In the cost records. The value of jute consumption shall be determined with reference to the actual quantities of different qualities of raw jute used for the manufacture of the various count of yarn. If the rate adopted for arriving at the value of consumption Is different from the actual cost, the value shall be"so adjusted as to brin£ it to the actual cost at least before the end of the financial year.

(ii) Batch cost of raw jute,—Proper records showing the quality-wise quantities and cost thereof the raw lute consumed in the production of different qualities and counts of yarn such as 8 lb. Hessian Warp, 9 lb. Messian weft, 10 lb. sacking warp shall be maintained in Proforma 'B¹. Details of the quantities of line cuttings, hesslan cuttings, waste yarn, caddies, etc., used in the manufacture of coarse yarn like sacking weft shall be maintained in Proforma 'B' either on the basis of actuals if available or on the basis o£ standard for the relevant count. The overall total .quantity and cost of different batches of jute, cuttings, waste materials etc., used

• S E C. 3 0 )] T HE G A Z E T TE OF I N D IA E X T R A O R D I N A RY

2 4 37

In the manufacture of jute goods produced during the year as per summary of Pro- forma 'B' shall be reconciled with the total quantity and cost of jute consumed as per Proforma 'A' and 'AT of Schedule II. Where standards are adopted, the •variances shall be adjusted by broad classification of raw jute groups used for each quality of yarn under Proforma 'B'. Such raw jute groups shall be at least three fold namely high, medium and low. Where standards for computation of raw jute consumption and value are adopted, basis for such standard out turn percen, tafjes of different qualities of raw jute shall be maintained.

(b) Direct Materials—(1) Batching emulsions.—Proper record shall be main- tained to show the receipts, issues and balances both in quantities and cost of each Item of direct materials such as batching oil, soap, and other emulsifying materials used for softening of different qualities or raw jute. The costs shall include all direct charges Incurred upto the works, wherever specifically incurred. The issues shall be Indentifled nroperlv with the departments and cost centres. As for batches and individual products, if standards are adopted the variances shall be adjusted on equitable and consistent basis,

(ii) Cotton Selvedge.—Proper records shall be maintained showing receipts, issues and balances both in the quantities and cost of selvedge yarn duly identify- ing the Issues with the department, cost centres and the individual specifications of products like sacking, hessian and carpet backing. The costs shall include all direct charges Incurred upto the works, wherever specifically incurred. If standards are adopted, the variances shall be adjusted on equitable and consistent basis.

(iii) Starch.—Proper records shall be maintained showing receipts, issues and balances both in quantity and cost of T. S. powder or any other items of starch. The cost shall include all direct charges incurred upto works The issues shall be properly identified with the departments, cost centres and products like sacking, hessian and carpet backing. Allocation of the cost of starch consumed in the manufacture of jute goods of dilTerent specifications and sizes in the same group shall be made on a reasonable basis and followed consistently.

(c) Lubricating Oil.—Proper records shall be maintained to show receipts, issues and balances both in quantity and cost of each item of lubricating oil used by the jute factory. The Issues shall be properly identified with the departments and cost centres and absorbed on Individual product costs on machine hours, spindle hours, loom hours or on any other more appropriate besis.

(d) Consmable Stores, Small Tools, Machinery Spares, etc.: i\\ Proper records =bnll ho mp:i^M"ec! to show the receipts, issues and balances both in quantities and costs of each item of consumable stores, small tools and machinery spares. The costs shown shall include all direct charges incurred upto works, wherever specifically incurred.

(ii) In the case of consumable stores and small tools, the costs o£ which are Insignificant, the company may, if it so desires, maintain such records l'or the main groups of such items.

(lil) The costs of issues of consumable stores, small tools and machinery_ spares shall be charged to the relevant heads of account such as production, repairs and maintenance of plant and machinery, repairs to building duly identified with the deportments and cost centres. These expenses pertaining to each department and cost centre shall be absorbed in individual product costs on tlie basis of machine hours, spindle and loom hours or on any other more appropriate basis.

Materials consumed for capital works such as addition to buildings, plant and machinery and other assets shall be shown under the relevant capital heads.

(e) Wastages, spoilages, rejections, losses and gain in weight of materials.— Proper records shall be maintained showing the quantity and cost of wastages, spoilages, rejections and losses of raw jute, other direct materials, lubricating oil, consumable stores, small tools find machinery spares whether in transit, storage or during manufacture, or Ion any other reasons.

The method followed for adjusting the above losses as well as the income derived from the disposal of rejected and waste materials including scrap, if any, in determine the cost of the product under reference shall be indicated in the cost records.

A separate overall wastage and .gain In weight statement showing the net loatf or gain in weight of the finished jute products. On an overall basis ahall also be maintained as indicated in Annexure I to this Schedule.

Separate records in quantity and cost shall be maintained for the recovery and consumption of line cuttings, caddies, thread waste and other waste materials as in Proforma Al of Schedule II. Separate records showing the loss between winding and weaving and weaving and packing shall also be maintained under Annexure II and HA, The method followed for adjustment of the costs of these items shall be consistent and be stated in the cost records.

II. Salaries and wages;

(a) Proper records shall be maintained to show the attendance and earnings of all employees and the departments and cost centres and the work on which they are employed. The records shall also indicate separately for each depart- ment and cost centre;

(i) piece-rate wages earned; (ii) incentive wages earned, either individually or collectively us produc- tion bonus or under any other scheme based on output;

(ill) overtime wages earned; (iv) earnings of labour engaged on casual work.

(b) Idle time shall be separately recorded under classified headings indicating the reasons therefor. The method followed for accounting of idle time payments in determining the cost of the products shall be disclosed in the records.

(c) Any wages and salaries allocable to capital works such as additions to plant and machinery, buildings, or other fixed assets shall be accounted for under the relevant capital heads.

c 0 3t (d) Direct and indirect wages including fringe benefits allocated to centres (except piece-rate wages) shall generally be absorbed in individual product costs on the basis of machine hours, spindle hours, loom hours or on any other more appropriate basis.

The piece-rate wages including the fringe benefits thereof shall be absorbed on the basis of the corresponding output such as yardage, bales, number of bags, tonnes as the case may be.

III. Service Department Expenses:

Detailed records shall be maintained to indicate expenses incurred for each service department Or cost centre. These expenses shall be apportioned to other Beryice and production department on an equitable basis.

IV. Utilities:

(a) Steam.—Where steam is raised by the jute factory of the company, proper records showing the quantity and cost of steam raised and consumed for the production of jute goods shall be maintained, in such details as may enable the company to furnish the necessary particulars jn Annexure III to this Schedule. The cost of steam consumed by the jute factory and other units of the company shall be calculated on a reasonable basis and applied consistently.

Where steam js raised and supplied by any other unit of the company to the jute factory, the cost of steam so supplied shall be charged to the jute goods activity on a reasonable basis and applied consistently.

Steam cost shall be charged to the individual products on a reasonable basis and applied consistently.

(b) Power.—Proper records shall be maintained to show the quantity and' cost of power purchased. Where power is also generated by the company, ade- quate records Khali bo maintained to show the cost of power generated in a similar proforma as for steam. The records shall =ilso show the consumption of power by the various departments and cost centres. The cost of Dower should be allocated to the cost centres on reasonable basis, and further be absorbed to the individual products on a reasonable basis such as machine hours, spindle hours, loom hours and applied, consistently,

V. Workahop/Foundry/Repairs and Maintenance:

Proper records showing the expenditure incurred by the workshop/foundry under different heads shall be maintained. Similar record^ on repairs and main- tenance by the various departments and cost centres shall be maintained. The record:; shall also indicate the basis of charging the workshop expenses to differ- ent departments and cost centres. The expenditure so allocated shall be charged to the individual products on machine hours, spindle hourSj loom hours or on any other more appropriate basis.

Expenditure on major repair works from which benefit is likely t0 accrue for more than one financial year shall be shown separately in the cost records indicating the method of its accounting in determining the cost of the various jute "ODds manufactured during the relevant period.

Expenditure incurred on works of a cpital nature shall be capitalised. The cost of such jobs shall include the expenditure on material, labour and a share of the overheads. The iobs carried out by the workshop/foundry of the jute floods factory for other units of the company and vice-versa shall be charged on a reasonable basis and applied consistently.

VI. Depreciation;

(a) Proper records shall be maintained showing the cost and other particulars of fixed assets in respect of which depreciation is to be provided. These records shall inter alia indicate the cost of each item of assets including installation charges if any, the date of its acquisition, the date of its installation and the rate of depreciation. In respect of those assets, the original cost of acquisition of which cannot be ascertained without an unreasonable expenditure or delay, the valuation shown in the books on the first day of the financial year beginning on or after the commencement of these rules shall be taken as the opening balance.

(b) The basis on which depreciation is calclated and allocated to the various department; and coat centres and to the products shall be clearly indicated in the records. As far as possible depreciation shall bfe absorbed in the cost of individual products on the basis of the respective machine hours, spindle hours and loom hours. Depreciation chargeable to the different departments and cost cehtres shall not be less than the amount of depreciation chargeable in accordance with the provisions of sub-section (2) of section 205 of the Companies Act, 1956 (1 of 1956) and shall relate to plant, machinery and other fixed assets utilised in such departments and cost centres. In case the amount of depreciation charged in the costs in any financial year is higher than the amount of deprecia- tion clutrgeable under the aforesaid provisions of the Companieg Act, the amount ^o cheir^ed in excess and the incidence of such excess depreciation pn the unit cost oE production of the individual iute products manufactured shall be indi- cated clearly in the cost records. The cumulative depreciation charged in the cost re< ords against any individual item of asset shall not, however, exceed the original cost of the respective asset.

VII. Overheads:

Proper records shall be maintained showing the various items of expenses comprising the overheads. These expenses shall be analysed, classified and grouped into works, administration and selling and distribution overheads. The methods followed for the absorption 01 the overheads in the cost of the products shall be indicated in tho cost records. As far as possible works and administra- tion overheads shall be charged to the individual jute goods on machine hours. spindle hours, loom hours, piece wages, yardagp, bales or other unit'? as the case may be.

Where the company is engaged in the manufacture of any other products In addition to jute goods, the records shall clearly indicate the basis followed for apportionment of the common overheads including head office expenses of the company to the jute goods activity, other activities and capital works. The basis followed for apportionment of the overheads shall be equitable.

Details of selling and distribution expenses and share thereof applicable to jute goods activity and allocation to individual jute goods shall be maintained in such a manner as to enable the company to fill up the particulars in Proforma 'E' of Schedule II. The allocation to individual products shall be equitable and followed consistently.

Records showing the expenses incurred on export of jute goods, if any, shall be separately maintained, so that the cost of export sales can be determined correct] jr. The expenses incurred on exports, as well as any export incentives earned shall be reflected in the cost statements relating to export sales,

VIII. Packing.

Proper records shall be maintained showing the quantity and cost of various packing materials such as hoops, buckles, pins, pack-sheets, paper card board care, discs, polythene sheets used for packing each individual jute goods to enable filling up of Proforma C-4. Records shall also be maintained showing wages and other expenses incurred in respect of different modes of packing like bailing, rolling and other forms of packing of various jute goods for arriving at the cost of different packs.. Where such expenses are incurred in common, the basis of apportionment of expenses between different jute products shall be clearly indicated in the cost records and applied consistently.

Separate records of special expenses, if any, incurred on a particular export packing shall also be kept and exhibited In the relevant cost statements for such export.

IX. Additional Expenditure on Special Orders-.

Expenses Incurred for special croping and mangling, extra calendering, dyeing, branding shall be indicated separately and charged to the respective products.

X. Jute Goods Transferred for Captive Consumption:

Proper records shall be maintained showing the quantity and cost of each item of jute goods transferred to another department/unit of the company for self-consumption. The rates at which such transfers are effected shall be dis- closed fin the coat records.

Self consumption of one category of jute goodg used for conversion into another category of jute goods such as hesslan used for manufacture of tapestry or carpets shall be charged at actual cost and the final cost reflected in Proformae 'D' and 'E' for the relevant final jute goods.

If any jute goods are utilised by the company for the manufacture of any other goods not covered by these rules (eg-lenoleum), the quantity, rate and value of such self-consumption shall be indicated separately in Proforma *E' of Schedule II.

Self consumption of finished jute goods by the company for other uses such as jute bags used for packing cement shall also be shown separately in Proforma 'E' indicating the quantity, rate and value thereof.

XI. Work-in-Progress and Finished Goods Stock:

The method followed for determinating the cost of work-in-progress and finished goods stock shall be indicated hi the cost records so as to reveal the cost elements that have been taken into account in such computation. The method adopted! shall be followed conatitently,

XII. Cost Statements:

Separate cost statements shall be maintained in respect of each type of jute goods by sizes, specifications and descriptions in Proforrnae 'D' and 'E' of Schedule II or in a form as near thereto as practicable showing the actual cost of produc- tion and cost ol sales. Separate statement shall be maintained by the mills show- ing description, quantity and sale proceeds of all jute goods exported by them specification-wise. Separate cost statements shall be maintained in respect of special jute products like laminated bags, carpets, felt, bleached and dyed jute fabrics, il any, manufactured by a company. Supporting cost data in detail showing the manner in which material, labour and overhead costs applicable to each item of jute goods have been arrived at shall be maintained in Proforma C-l, C-2, C-3 and C-4 of Schedule II or in any form aa near thereto as practi- cable. The data shall indicate the manner in which the quantum of input of weft yUnn and warp yarn have been arrived at, the requirements of spindle hours and loom hours, the cost of various processes involved from batching to spinning, beaming, weaving, flnisnlng, sewing and Hacking.

XIII. Reconciliation of Cost anil Financial Accounts;

The cost records shall be reconciled periodically with the financial books of accounts so as to ensure accuracy. Variations, if any, shall be clearly Indicated and explained. The period for which such reconciliation Is effected shall not exceed the period of the financial year of the company. The reconciliation snail be done in such a manner that the profitability of the product under reference can be correctly adjudged and reconciled with the overall profits of the company.

A statement showing the total expenses incurred by the company, Income received by it and the share applicable to jute goods shall be maintained in Proforma 'F' duly reconciled with the financial accounts.

XIV. Adjustment of Cost Variances:

Where the company maintains cost records on any basis other than actuals, such as standard costing, the records shall Indicate the procedures followed by the company In working out the cost of the products under such a system. The method followed for adjusting the cost variances in determining the actual cost of the product shall be indicated clearly in the cost records. The cost variances shall be shown against the relevant heads In Proformae C-l, C-2, C-3, C-4 and 'D' of Schedule II. The reasons for the variances shall be detailed in the cost records.

XV. Records of, Physical Verification:

Records of physical verification shall be maintained in respect of all items held in stock such as raw jute, direct materials, packing materials, consumable stores, lubricating oils, machinery spares, fuels, finished goods and fixed assets. Reasons for shortages/surpluses arising out of such verification and the method followed for adjusting the same in the cost of the products shall be indicated in the records.

XVI. Inter-Company Transactions;

In respect of supplies made or services rendered by the company to its holding company or a subsidiary or a company under the same management 03 defined in Section 370 (IB) of the Companies Act, 1966 (1 of 1956) or a company in which a Director of the company Is also a Director in such companies and vice-versa, records shall be maintained showing contracts entered into, agree- ments or understandings reached particularly in respect of: —

(a) purchases and sales of raw jute and finished goods and fixed assets; (b) utilisation of plant facilities; (c) supply of utilities; and (d) administrative, technical, managerial and anv other consultancy

services.

These records shall indicate the basis followed for arriving at the rates charged between them so as to able determination of the reasonableness of the rates charged/paid for such services.

XVII. Statistical Records:

Data such as contracts entered into for purchase of raw jute and sale of finished goods shall be maintained in detail indicating separatelv forward purchases and sales. These records shall also indicate the extent of completion and mode of completion of each contract for purchase and sale at any specific time. Data regarding plant utilisation Indicating the reasons for stoppages and under utilisation of installed capacity under classified headings shall also be kept. Detailed records regarding the manner of control exercised by the company in respect of spinning efficiency and loom efficiency, rejections and wastages in process shall also be maintained.

Such records as will enable the company to Identify capital employed separately for jute goods shall be kept. Fresh investments on fixed assets that have not contributed to the production during the relevant period shall also be indicated in the records.

Statistical and other detailed production records maintained in compliance with the provisions of this Schedule and Schedule II shall be such as to enable the company to exercise, as far as possible, control over the various operations and costs and to ensure optimum utilisation of the Installed eatneties with a view to achieve maximum economies in costs. The records shall provide the

necessary data required by the coat auditor to suitably report on all the points referred to in the Cost Audit (Report) Rules, 1968, as amended from time to time.

The data¹ maintained in the cost records shall be reconciled with the periodical returns submitted by the company to the excise wnd other authorities.

ANNHXUR? I

>farac of the Company

Name and address of the Jute Facory

Type and description of Tute Goods

Statcm-nt showing the overall wastage and gain in weight due to process additions of jute goods during the year ending

Previous year Particulars

(Tonnes)

Current year (Tonnes)

I. Unprocessed Jute Issues

Stock Va iatjo'i^

3.

Total (142)

3-

4- Fabric Production (Based on Bale poin production)

Twist Production (actual) (excluding sale Twist)

5-

6, Hemming Yarn ( " )

Sale Twist (Yarn) { " 1

7-

8. Total Production (4,5,6 & )

9. Wastage (3—8)

1 0. Wastage pei cent (9 to 3)

I I. Batching Emulsion (Consumed)

1 2. Cotton Yarn ( " )

13. Starch r " )

14. Dyes ( " -

15. Total(3 + u t o i 4)

16. Revised Wastage (15- 9)

17- Revised percentage (16 to 15)

ANNEXURE II

'"Name of the Company

Name and address of the Jute Factory

Type 1 of Jute Goods Manufactured

Statement showing the loss between Winding and Weaving during the year ending

Total Tonnes

1. Opening stock of yarn

(Winding to Weaving)

2. Production in the Winding Dept.

(Actual Wt.)

3. Deduct closing stock of yarn (Winding to Weaving)

4. Weight of issued yarn 5. Deduct yam issued for plying 6. (a) Deduct yarn sold and transferred or wasted jn stock

(b) Wastage, if any

7. Net yarn used in weaving

8. Weight of woven fabric 9. Less weight of retained starch

10. Weight of woven fabric without Starch -II. Drop in yarn weight (7—io") .12. Item 11 as percentage on 10

The loss% may b: taken into consideration in computing quantity requirements of yarn inProforma'D'.

ANNBXURE IIA

3slame ot the company

Name and address of the Jute Fpptoj-y,,, 1

Types of Jute Goods manufactured

Statement showing loss between Weaving and Packing during the year euding

Fabric Bag Tonnes Tonnes 3. Opcningstockin Weaving, Finishing and SackSewing 3. Production in Weaving Department

(Anncxure II) Item S

3. Less closing stock in Weaving, Finishing and Sack Sewing

4. Fabric and Bag issued for packing 5. Actual Bale Production fabric and bag •6. Loss between Weaving and Packing (4—5) 1- Item 6 as% Item 5

The loss% may be taken into consideration in computing quantity requirements of fabric forProforma'D'.

ANNEXUBE III

Name of the Company

Name and address of the Jute Goods Factory

Statement showing the co.t of steam raised/consumed during the year ending

Quantity of Steam raised

Particulars

Rate Total

cost

Quantity (Units)

R".

Water

I.

Fuels

1.

(a) Goal

(b) Fuel Oil

(c) Other fuels, if any (to be Specified)

Consumable stores

3-

Salarle8& Wages

4

Repairs & Maintenance

5-

6. Other direct expenses

Depreciation

7-

TOTAL

Less :,Credits,lf any • — •

8.

TOTAL

Allocated to :

Amount in R".

i. Jute Goods Factory

z. Other products (to be specified) —• • •

TOTAL . . . ——. ,

NOTES: (i) If steam is supplied to any other outside party, necessary credit for recoveries made shall be shown separately against item 8.

(ii) Where meters are not installed, consumption of steam shall be assessed on a reason- able basis and applied consistently.

(iii) Bonus to employees other than incentive bonus, provision for statutory gratuity and interest charges shall b? shown in Proforrna 'H'/'F' only and not in any other Proforma.

SCHEDULE n

S E C

.

PROFORMA 'A'

3

(

0

]

(&e rule 4)

Name of the Company

Name and, address of the Jute Factory

Statement showing the total cost of raw jute used for the production of jute goods during the year ending

T H E

Net issue during

Total Sale, if any

Remarks

the year

Physical stock adjustments, if any

Opening stock at the mills ason

Closing stock at the mills as on

Classification and equi- valent Mar- ket grade

Receipts during the year includ- ing freight and incidentals

G A Z E T T E

O F

I

Value Rs

Tonnes

Value Rs.

Qty. Tonnes

Value Rs. Tonnes

Value Rs.

Value Rs. Tonnes

Value Rs.

Value Rs.

Qty. Tonnes

Qty. Tonnes

Qty. Tonnes

N D

I

A

1

10

11

6

3

2

12

3

13

7

9

14 4

5

5b

1.

E X T R A O R D 2-

I

N A R Y 4- 5-

NOTES: ( I) The value of receipts shall include West Bengal Jute Tax wherever actually paid, freight and other identifiable incidentalexptnses.

(2) If part of the raw jute received is sold, the details of the quality, quantity, rate and salesrealisation thereof shallbesho-wr in the records. (3^ Freight ani incidentals (Coluips 4 aid 5)—A3 far as passible the mill complies will identify the expenses incurred on this accourt with the

va^ous e n g i n es ni cla^ificition of raw jute. The amount which cannot be conveniently identified directly will be distributed pro rata oa xhi FI'-UMS cit^jpries or class of raw jute on appropriate basis which would be consistently followed.

2 4 4 5

PROFORMA *A-i'

3 4 4 *

Name of the Company

Name a^d address of the Jute Factory

Stitsm^nt s'liwmg total cutting thread warte a^ caddies recavered in the process of manufacture and nsed foi production of Jute Goods for the year endjrg

T H E

Classification

Recovered during Total

Closing stock

Opening stock*

g Sale,

Remarks

if any

the year

Consumed durir

the year

Physical stock adjustment, as on

if any

G A Z E T T E

O F

I Value Rs.

Value i Rs.

Value Rs. Tonnes

Qty. Tonnes

Qfy. Tonnes

Value Rs.

Qty. Tonnes

Value Rs.

Value Rs.

Value Rs.

Tonnes

Qty. Tonnes

Qty. Tonnes

N D

I

A

i

6

8

II

2

10

12

5b

5a

3

13 5

4

9

7

14

Cutting

I.

E X T R A O R D

I 2. Thread Waste

Caddies

3-

N A R Y

Others

4-

[

NOTES: (0 The total quantity aid value of raw jute consumed as per Profonrts>'A' phis the value of consumption shown in Proforma 'Ai'minusthe value of recavery shown in Pxoforma 'Ai' should reconcile with the total adjusted batch cost of various quality arr¹ court of yarn maru- fictuied by the company as per Proforma 'B' Columns 2 and, 3.

P A R T

(2) Quantities are to be expressed at average normal M.B. % of Raw Jtfte.

H —

PROFORJrlA 'B*

S E C

,

(For each count of yarn)

3 0

) ] Name of the Company Name and address of the Jute Factory

Statement showing the batch cost and composition of raw jute used, for the manufacture of daring the year ending

(Type and description to be given)

rt) Category and specification of yarn (ii) Production in tonnes at winding (iii) Jute input in tonnes

T H E

Add for cutting

Remarks

Add fornet rejection

•Out selected jute as per Finisher

Standard uncut net jute input at actual rates

Card Mixing

Mill Classi- fication and equivalent market grade.

Value

Rate Value

Value

Value

Qty.

Rate

Rate

G A Z E T T E Qty.

Qty.

Qty.

i

2

II

12

6

3

4

10

3

O F

7

13

9

I

i.

N D 2.

I

A

TOTAL

Less : (i) MillThread Waste (ii) Mill Caddies

A. Net Standard batch cost of jute B. Groupwis e a djus tmen t for valu e var iation

E X T R A O R D

I of raw jute and work in process, if any, to re- concile with the actual jute cost as per Proforma

' B l' C. Net adjusted batch cost of jute used for

yirn transferred to Proforma T>'

N A R Y

NOTES :(O Separate surements showing Batch Cost for individual quality of yam produced shall bemairtaiMt¹. ir this Profenn?-

^2) Aooropriate quality a.ad quantity and value of jute, line cuttings, waste etc, used for the manufacture of each couEt of yam should be indicated

inder columns I, 2 and 3 of this Profonna.

(3) A summary batch cost statement showing total batch cost of all the different qualities of yam manufactured dtirirg the year shall be complied

2 4 4 7

P R O F O R MA 'B-i'

Nam: of the Company

•

Nam- and address of the Jute Factory

Statement showing the reconciliation b;tw=ea actual Jjute consumption and the total of iute c o e m p t i on as derived for Proforma ' B\

Quantity

Rat* Valu*

 I.  Opening  Stock-in-process
     (Batching to  Pre-wmdjng)
a.   Net issues during t  e year as per  Proform a 'A'.
 3-  L:ss  closing  Stock-in-process
     (Batching  to  Pre-winding)
4-                                              High
                                                Midiuiu

LJW -•—i——

Actual consumption for the year (i h2—3) (stnald b; sara^ with aggi-e- gatcd total of item 'C of th^ Proforrru 'B').

5- Mit s t n i i -i Btt;'.i Gut fo: ths y^ar a5 p^r Proforma 'B' agjre iatei.

_

Medium Low —•-——.

6. Difference adjusted gcoJp wise in

Pruforma 'B' (item 'B')

high Medium

PROFORMA eC-i'

S B C

.

3

Crirrent

year

Previous

year

( i ) ] (1) Name of the Company (2) Name and address of the Jute Factory (3) Statement sbowingthe Gcst of Production of yarn (excluding Jute Cost)

produced during the year ending

(4) Specification of yars

'....'...'.'..'.".".'..'.'.'.'.'.".'.''.'.'.'.'.'.".

(5) Production in Tonnes (6) Spindle Hours (7) Spindle Hours/Tonne

Cost Centres

Utilities

Adjustment, if any

Cost per M. Absorption Units

T H E

Ton

•8

S

1

CO

"

" a

•2

G A Z E T T E

O

1

a

⁰

3

OSa %

.0

O

1

<8

D

O F

tri

ti

1

U.

M

O

I

a

S

U

eg

S

I

&

O

N D co •a %

I

s

CO

S

s

£

I I*

A

Rs. Rs

O Rs.

Rs.

3 O X " l-l Rs.

R s.

O Rs.

Rs.

Rs.

Q Rs.

0 to Rs.

Rs.

Rs.

Rs.

0 Rs.

⁰I 1<

Rs. Rs.

Rs.

10

6

8

20

21

. Rs.ii

16

12

18 1

5

17

[5

13

2 3 4

9

19

E X T R A O R D

I ; .. M. Ton . . M. Ton . . M. Ton .. Spindlehours .. (1) Piece Workers' Wages direct

(a) Jute Handling (b) Batchidg (c) Preparing 3 (d) Spi.ining (e) Winding

N A R Y (ii) Others on Spinning Spindle Hours

(f) Twisting Spindle Hour (Twisting)

Total

Cost pi;r M. Ton

2 4 4 9

AH Jiitioa i'T-1 absorption rate should b; separate for fiae and coarse sides.

PROFORMA cC-2*

(1) NameoftheCompiuy

(2) Name & address of the Jute Factory

Current Previous year year

(3) Sttf-iinMt showing the cost of production of fabric (excluding jute cost) from Beaming to

Finishing produced during the year

(4} Specification of Fabric

I-

(5) YirJrsqiirem'iit per tonne (including allowance for wastage)

tl

(i) (a) ^Prepacked Production in tonnes/yards

(b) Total loom hours

o (a) Warp (b) Dyed yarn (c) Cjrtxi/jute Selvedge (d) Weft (e) Others

(ii) Loom Reed space ?iij) Loom picks/Min. (iv) Production/Loom hour (Finished yards) fv) Loom hours /tonne fvi) Yardage/tour e (vii) Laid length/cnt or Roll (viii) Finished length/cut or Roll (ix) Warp count x) Weft count |xi) Warp spindle requirement/loom' [xii) Weft Spindle requirement/locm xiii) Warp spindle heurs/torjie (xiv) Weft spindle hours/tonne

Absorption

Utilities

Cost per M.T.

Ad^Jstlnent1 if any Cost Centres

Units

a a

-•3 if

"S fj •gs;

a

1

to

!

S

0 |

n

•3 a

S

g

a

<%

O _g

•a tf

I

on t-r

E

1

1

a O. en

i-r

I e

.S

n

S

t

a

a

t

1

•S g O

I

0

I 10

•c i

I

3

1

! 0

B in

I

Vi

1

Q>

R S.

R S.

Rs.

Rs.

Rs.

Rs.

RS.

Rs.

Rs. Rs

Rs

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

—Piece Workers' Wages direct

Pre-Biaming

S

l l

C Other —Per mpse of piece workers wages or yardage Starch/Steam.—Warp requirement Selvedge—yardage

3 < 1 —Piece Workers' Wages direst

Beaming

) ] Others—Per rupee of piece workers' wages or yardage

StaceUv'Steam—Warp requirement

S elvedge—Yardage

—Piece Workers' wages direct

Weaving

Others —Loom. Hours

—Piece Workers' wages of yardage

Inspection

Others—Piece workers' wages or yardage

T H E

Ya,rdage

Yardage

G A Z E T T E Damping \ Calendering/ Cropping \ Mangling/ Lapping Rolling 4 :

Yardage

O F

I

N D

I Total

A

•Prepacked production may be derived from the bale production after adjustment of opening and closing stcck.

E X T R A O R D

I

N A R Y

2 4 5 1

PROFORMA *C-3'

2 4 5 2

Current year Previous year

(1) Name of the Company (2) Name & address oftbe Jute Factory

; "

(3) Stitejmnt shiwing the cjst of production of bag (excluding Fabric Cost)

T H E (4) Quality and Specification of bag (5) Sewing twine/100 bags and per tonne of bags (6) Weight/bag 07) Yards/bag (8) BagsfTonne

(9) Bags produced 1

G A Z E T T E

O F

I

N D

I (a) Number (b) M. Ton (c) Fabric consumed in M. Tonnes (d) Gunny cutting I os s M.T. (e) Cutting loss t

A

Cost Centres

Utilities

Adjustment, if any

Cost per Absorption Units

M.T.

jj

⁰⁵3

•a S

a

|

•a 6

E X T R A O R D

a>

I

a

g

0 M

^.

a &

•a

.5

i

N A R Y

I

°i

8,

S

V

u

i 2

1

1|

10

O

u

I I

"g S

a*

u Q Rs. Rs.

Rs.

Rs. Rs.

Rs.

Rs. Rs.

0 Rs.

H Rs,

Rs.

Rs. Rs.

Rs.

Rs.

Rs. Rs.

[

P A R T

18

12

16 1

2

II

6

g

13

17

19

14

3 4 ⁵

0 9 I'

7

B U

-

Measuring Cut- Yards/Pieces

S E C

.

ting

3

(

0 Piece Workers

Overhead Sewing

]

wages direct

Others—(a) Related to No. of piece

(b) Related to

Tonnage

T H E Hemming

Piece Workers' wages direct

Others—(a) Related

to No. of Piece

                                                                                                                                   G
                                                                                                                                   A
                                                                                                                                   Z
                                                                                                                                   E
               (b)  Related to                                                                                                     T
                Tonnage                                                                                                            T
                                                                                                                                   E
Hand  Sewing   Piece Workers'                                                                                                      O
                 wages direct                                                                                                      F
                Others—(a)  Related                                                                                                I

to No. of piece

N D

I (b) Related to

A Tonnage

Union Sewing Piece Wcrfcers' wages direct

Others—(a) Related to No. of piece

(b) Related to

E X T R A O R D

I Tonnage

Heracfde Sewing

N A R Y Piece Workers' wages direct

Others—'(a) Related

to No. of Piece

(b) Related to

Tonnage

Repairing

No. of bags

Bianding

No. of bags

2 4 5 3

PROFORMA IC-4J

2 4 5 4

Current year Previous year

(1) Name of the Company

(2) Name & address of the Jute Factory

, Total No. of Bales

packed.

(3) Qaility and specification of bale

T H E (a) Type of goods (b) No- of yard3/bags/per bale 01 Toll (c) Bites /tonne, Rolls/tonne (d) No. of Hoops, BucSdes, Pins/Bale^ (e) Length of Hoop (f) Pack sheetrequired

(i) quality/width

("j length

G A Z E T T E

O F (") Paper/Steel Cote GO Ends (i) Polythene sheets 0) Card Board Disc.

I

N D

I

A

Cost Centres Pack; Sheet

Utilities "

Cost per M. Ton

Adjustment, if any

"—•• — *— •• 1 i — 1 3

<3

•3

CO Of

I

at

to

en u

E X T R A O R D

1

I 'n

u j; §

5

'a "C

a

0

a

1

n

S

cu

3

(

0 (3) Guany Go-

] down

(4) Factory Me-

chanic

•*5) Workshop

6) Others

T H E

Total

"

pToforma 'C-i\ 'C-z',

G A Z E T T E

O F applied consistently. m expenses to the jute goods in the case of multi-product units shall be equitable and

I

N D

I

A E X T R A O R D

I

N A R Y

2 4 5 5

PROFORMA 'D'

Name of the Company — . • —

Name and address of the Jute Factory —

Statement showing the cost of production of prepacked

• -~

(Specification of Sale yarn fabric/bags other products^to be indicated) during the year ending , , ,

A. Production Current year .Previous year

Ton- yds. No. of Ton- Yds. No. of nes Mtrs, bags nes Mtrs. begs B. (i) No. of rolls per tonne of fabric (11) Yards per tonne of fabric (ill) (a) Yards per roll of fabric (b) No. of bags per bale (ivj No. of bales per tonne of fabric

(v) No. of bags per tonne of fabric

C. Requirements per tonne of fabric ( bags, Yards)

Spy in cloth Weaving Items Count

waste

Spy Yam Kg.

I.

2.

3- 4-

5. 6,

7.

- -

P.

Warp Dyed Selvedge Sewing Hemming Weft Total Oil percentage of yarn Starch percentage of warp yarn

9.

Amount

Particulars

Cost per tonne

Quantity (Units)

Rs.

Current year Rs.

Previous year Rs.

2

1

4

3

5

1. Batch cost of raw jute as '

per Proforma 'B'

2. Direct Materials (a) Batching Oil (b) Soap (c) Starch (d) Selvedge yarn (e) Stores and spares

3. Other special materials Such

as dyes, chemicals (to be specified)

4. Lubricatirg Oil 5. Direct salaries & wages 6. Utilities fa) Steam (b) Power

7. Other Works Overheads 8. Repairs & Maintenance 9. Depreciation

10. Administration Overheads

("•) 11. Sewing cost

(*) 12. Adjustments for cost/variances, if any, where standard costing system is adopted (a) (i) Jute Materials

(li) Other direct materials

(b) Labour (c) Over heads (including

lubricating oil, utilities, repairs & maintenance, depreciation etc.)

13- Adjustments for opening and

closing balances of work-in- pro grese. (a) Jute cost (beaming

onwards)

(b) Conversion cost (batching

to finishing)

TOTAL — • —• ._

. ,

14- STOCK adjustments (Prepacked

gcods).

Add: Opening Stock Less: Closing Stock

15. Total cost of finished fabric,

bags etc . transferred for packing (Proforma 'E')

NOTES : (*•) Applicable in the case of bags as per Preform* C3.

(*) Applicable to companies maintaining records on standard costing system only. In such companies the standards shall be indicated alongside actuals in the cost records with reasons for major variations between actuals and standards.

(1) Separate cost statements shall be maintained in respect of each specification and size of sale yarn fabnc/bags/laminated bags, jute carpets, jute tapestry and other jute goods.

(2) Detailed supporting cost data regarding the requirements and actual usage of direc materials/labour, overheads, etc., shall be maintained in Proforma 'Ci', C2 and 'C3'. (3) The process loss percentage computed in Annexure IIA and IIB shall be taken into consideration for determining the quantity requirements of yam and fabric,

(4) Apportionment of common overheads and head-ofEce expenses to the jute goods in the case of multi-product units shall be equitable and ap,Hed consistently.

(5) Bonus to employees other than incentive bonusj provision for statutory, gratuity and interest charges shall be shown in Profonna 'E' only and not in any other Pro- formae.

(6) Stock adjustments for prepacked finished jute goods shallbe made In this Proforma only.

(7) Additional expenses incurred on any order towards cropping and mangling, extra calendering, dyeing, etc., shall be shown in therelevant 0 ost statement and the extra

cost indicated in the form cf a foot-note therein.

P E R F O R MA fE*

Name of the Company—•—' '—'—' '—'—' — Name and address of the Jute Goods Factory—•—• ' • — Statement showing the cost of sales of •—'—'—•—•—• ' • ~— ' ' ' ' Packed and sold during t he year ending— • . (Specification of fabric/ sale yarn other products to be indicated)

_ _^

Previous year

Current year

Quantity

Quantity

No. of bags

Ton- nes

Yards Metres

Yards Metres

No. of bags

Ton- nes

I.

tion.

II.

Quantity packed Quantity actually sold Quantity used for self consumpi No f f yards r" roll No; of bBgs per bale.

(a) (b) (c) (a) (b)

Daie/jtxi

Rate Total Cost per tonne Cost per

Qty-

Particulars

"Pre-

Current yeer

Curr- ent year

R E.

vious year Rs.

Pre- vious year Rs.

RH.

Rs.

Cost Rs.

8

6

7

2

i

3

5

4

1. Cost of pre-packed jute poods transferred from Pro- forma ' D'

7. Packing Cost : (a) (i) Pack Sheet (ii) Hoops fiii) Buckles (iv) Pins (v) Paper Cardboard cores for carpet backing.

(vi) Discs

(vii) Polythene sheets

(viii) Other packing mate-

rials

(b) (i) Wages

(ii) Overheads (iii) Depreciation

TOTAL

J. Stock Adjustments

(Packed goods only)

Add : Opening Stock Less : Closing Stock

Cost of quantiiy packed and actually sold

4. Selling &• Distribution Expense

(For quantities sold only)

(1) Salaries & wages

(ii) Commission, if any (iii) F.A.S. Boating charges/ Lorry hire charges (iv) Share of Administra-

tion Overheads (v) Other expenses

I

² 3 4 5 ^{6 7} g

5. Total cost including selling

and distribution expenses.

6. Interest charges.

7. Annual bonus to employees (other than Incentive bonus).

8. Provision for statutory

gratuity*

9. Other expenses not included

in cost (to be specified.

10. Total expenses excluding excise duty for quantity sold within the country in eluding self consumption.

I I. Sales realisation excluding excise duty for quantity sold within the country :

(i) Self consumption

(ii) Sales to others

TOTAL

12. Margin

13. Average sales realisation per

tonne/bale/100 bags

14. Margin per tonne/balc/ioo bags.

TOTES : (1) Sipjrate cost statements shall be imintained in respect of each individual specifica- tion and size of jute goods including sale yarn, if any.

(2) The apportionment of common selling and distribution expenses to the product the case of multi-product units shall be equitable and consistent.

(3) Sprcial cxp:nses incurred on export packing, if any, shall be shown separately in the relevant cost statement for such export?.

(4) Ehnus to employees other than incentive bonus, provision for statutory gratuity awi interest chwgcs shall be shown separately in Proforma 'E¹ only and not in any other Proforma in respeect of Jute goods.

(5) If the entire or part of the packing plant is used for packing of other products in addition to jute goods, the apportionment of the op;rating experies of the packing plant including labour costs to the different products shall be equitable and applied consistently. Supporting data relating to packing cost shall be maintained in Prol'otma 'C-4'.

(6) Self c msumMion of one cuegiry of jute gjods used for conversion into another cate- gjry of jute goods such as hesian used for the manufacture of carpets or tapestry shall be chirged at actu)l cjst a'id the funl cjst reflected in Profprma 'D' and 'E for the relevant final jute goods.

(7) If any iute ginds ace utilised by the company for the manufacture of anv other goods not covered by these rules (e.g. linoleum) the quant'ty, rate and value of such self consumption shall be indicated separately in th;s Proforma.

(8) Self consumption of finished jute gocd by the company such as jute bags used for packing cement shall also be shown separately in Proforma 'EE' indicating the quintity, rate and value thereof.

PROEORMA 'P

Name of the Company—' • —-<—'—•—i—>-^

N a me & a d d r e ss of t he J u te F a c t o r y — • > —• • —•

• — • — —' • —> ——J

Statement showing the allocation of total cxp2nsfs and ir.cfir.c of the Cf i r p r ry ir rr>rcs.

Quantity Tonnes

Spindles Nos.

Broad Looms Nos.

Narrow Looms Nos.

(i) licensed Capacity (il) Installed Capacity 3ii) Budgeted Capacity (iv) Actual utilisation/ production

during the year.

(v) Percentage of (iv)to (ii) (vi) Percentage of (iv)to (iii)

Hessian Sackin g Othtrs

Carpet Packing

Warp Weft

Warp Weft Warp Weft \X Blp Wtft

(vii) Overall spindle efficiency

(a) Fine Side

I. Appren Draft II. Slip Draft

III. Others

(b) Coarse Side

Hessian Sacking

Carpet Pacing

Con en Bagging

(viii) Over all I>oom efficiency

Share applicable to

Particulars

S. No.

Total actual expenses

Jute Goods Activity

Other Activities

R9.

Rs.

Ra.

2

3

i

4

5

Raw material*

I.

Other materials consumed

2.

Utilities.

4-

Other Works Overheads

5-

Repairs & Maintenance

6.

Depredation.

7-

Admlnistralon overheads

8.

TOTAL

1 2

3 4 5

9. Adjustment for difference between

opening and closing balance of work-in-progress.

TOTAL

10. LeeB : Credits for recoveries (i) Caddies, waste (ii) Others

11. Packing Cost

12. Stock adjustments for difference

between opening and closing stock

(i) Pre-packed Stock

(ii) Packed Stock

TOTAL

13- Selling and Distribution expenses

TOTAL

14. Annual bonus to employees other

than incentive bonu.

15. Provision for statutory gratuity.

16. Interest charges.

17. Other expenses not included in

cost (item to be specified)

TOTAL

18. Less any other income not consi- dered in costs (to be specified).

19. Total excluding excise duty.

20. Deduct export benefits, if any.

21. Net sale realisation

(excluding excise duty).

22. Margin

AHitems of income and expenditure In this Profonna shall be reconciled with the financta accounts for the relevant period.

[No. S2/i4i/73-CAB]

P. B. MENON, Jt. Secy.