Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

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 product .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ere is no intention of transferring CENVAT credit. - Reply By CS SANJAY MALHOTRA - The Reply = Notification No.45/2000-Central Excise(N.T.) dated the 30th June, 2000 Rule 8 of the Central Excise (Determination of Price of Excisable Goods) Rules, 2000 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

OP. No issues, have seen various companies practically following the same (Valuation more than 110% of COP) to have accurate transfer pricing accounting in their books of accounts for determination of Cost Centre wise profitability. Important aspect .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

203;Thanks a lot for your valuable inputs and sorry for the confusion. Actually, duty is paid on higher valuation, hence as per your contention Cenvat credit will be disallowed. Am I right? Can you please elaborate this aspect? I mean some legal prec .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ers on normal transactional value who used to sell part of Production outside and consumed part in-house. Amended Notification made it precise for payment of duty on 110% of COP in case of captive consumed goods. Duty payment on higher than 110% of C .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

eld that Rule 8 is not applicable where the entire quantity of goods manufactured was not captively consumed. CBEC however after ISPAT and FIAT India judgment came out with Circular No. 975 dated 25.11.2013 thus stating that the valuation rules to be .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version