Indian Cost Accounts service

 

 

  •      In 1978, Indian Cost Account Service (ICoAS) was constituted and recruitment rules were notified in 1982.    

 

  •      Only Accounting Service having professional Cost/Chartered Accountants.

 

  •      Chief Adviser Cost is managing authority and central repository of the cadre.

 

  •      31 participating offices of various Ministries/ Departments such as Economic Affairs, Revenue, Commerce, Company Affairs, Defence, Chemicals & Fertilizers, Industry, Agriculture, Consumer Affairs & PD, Supply, National Pharmaceutical Pricing Authority, I&B,  etc

 

 

Role

     Compliment the efforts of Central and state Governments/departments:

  •      In optimum utilization of resources through allocation and monitoring of funds, cost control and cost reduction & efficiency techniques;

 

  •      To aid revenue authorities in transparent assessment of revenues & curb evasions & commercial frauds

 

  •      In fixation of reasonable prices of  goods and services

 

  •     To protect industry, consumers and investors from unfair/restricted trade practices

     -       Anti-dumping mechanism

     -       Predatory pricing

     -       Abuse of dominance

  •     To provide advice on Cost and related Financial Management matters