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Captive Consumption - Valuation of goods

Central Excise - Started By: - Ashok Patil - Dated:- 22-5-2015 Last Replied Date:- 23-5-2015 - As per the provisions of Central Excise Valuation Rules, in case goods are captively consumed, the value of such goods shall be 110% of the cost of production irrespective of value charged to independent buyer.Now, in case instead of valuing the goods at 110%, if those are valued at more than 110% (say around 150 to 200%) of cost of production then what will be consequences of such higher valuation. Th .....

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on or manufacture of such goods . Notification No. 60/2003 - Central Excise (N.T.) dated 05.08.2003 made an amendment to Valuation Rules thus substituting 110% of Cost of Production as against 115% of COP notified earlier. Circular No. 975/09/2013-CX dated 25.11.2013 Provides for compliance with the Valuation provisions mentioned in Rule 8,9 & 10 of Valuation Rules 2000. SUBMISSION Your concern is genuine that the Cost of Captive consumed goods may sometime have valuation more than 110% of C .....

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tral Excise Duty paid higher than 110% of COP is referred to Higher Tax payment by assessee and collected by Central Excise Department without any authority of Law, which would be disallowed as CENVAT credit to the Buyer of Goods. Assessee would not be entitled to refund of higher tax from Central Excise department until and unless he proves that there is no unjust enrichment involved in higher tax payment. Hope all clarifies your query. - Reply By Ashok Patil - The Reply = Dear Mr. Malhotra  .....

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