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Insertion of capital goods in Input definition, Central Excise

Issue Id: - 110216
Dated: 20-4-2016
By:- arbs sarma

Insertion of capital goods in Input definition


  • Contents

Sirs,

In the recent budget input definition under CCR, 2004 was amended and a new clause (v) is inserted in rule 2(k) i.e., input means all capital goods having value upto 10000 rupees per piece.

query:

CG having value upto 10000 per piece means is it the assessable value or the invoice value (i.e., value including all taxes)

Posts / Replies

Showing Replies 1 to 10 of 10 Records

Page: 1


1 Dated: 20-4-2016
By:- KASTURI SETHI

Invoice value.


2 Dated: 20-4-2016
By:- Rajagopalan Ranganathan

Sir,

With due respects to the views of Shri Kasturi Sethi Sir, my view is that vlaue of ₹ 10000 per piece means the transaction value excluding all tases payable /paid on the CG.


3 Dated: 20-4-2016
By:- Rajagopalan Ranganathan

sir, In my reply dated 20.4.2016 please read tases as taxes. The error is regretted.


4 Dated: 21-4-2016
By:- KASTURI SETHI

Sir,

There is neither the word, 'Transaction' nor the word, 'price' in the notification issued. However, I can assume that Sh. Ranganathan, Sir, may be right.


5 Dated: 21-4-2016
By:- MARIAPPAN GOVINDARAJAN

I endorse the views of Shri Rajagopalan.


6 Dated: 21-4-2016
By:- surya narayana

Dear Friend ,

In my view it is the Assessable value/Transaction value of the piece and not the invoice value.

The word indicated in the Rule is "Value" and not the cost to consider invoice value.

Best Regards

Suryanarayana


7 Dated: 21-4-2016
By:- arbs sarma

Thank you sirs for expressing your views.


8 Dated: 21-4-2016
By:- Ganeshan Kalyani

Sir I would like learn what is the difference between 'Value' and 'Cost' ?


9 Dated: 22-4-2016
By:- surya narayana

Dear Kalyan Ji

In general parlance, the value represents the assessable / transaction value for the purpose of payment of duty and the cost represents the total amount paid to a particular material which includes, duties, other taxes and freight and other handling charges . This differentiation is generally considered while inventorizing the material in the books of accounts.

Best regards

Suryanaryana


10 Dated: 22-4-2016
By:- Ganeshan Kalyani

Sri Surya Sir thanks a lot for clarifying my doubts. Thanks.


Page: 1

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