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Treatment of Scrap etc. taken as credit for recoveries under Valuation for Captive Consumption

Treatment of Scrap etc. taken as credit for recoveries under Valuation for Captive Consumption - Central Excise - By: - Rakesh Singh - Dated:- 26-12-2015 - The word 'Captive Consumption broadly refers to goods produced or manufactured in a factory and used within the factory in the manufacture of other goods. When goods manufactured by one division/plant are transferred to and consumed by another division/plant of the same organization or related undertaking for manufacturing another product .....

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st of production or manufacture of such goods. On the introduction of Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000, w.e.f. 1st of July 2000, the general principles of costing were referred as the basis for the valuation. The treatment of scrap and waste is dealt in para 5.12 of Cost Accounting Standards-4 (CAS-4). In case, scrap or waste does not have ready market and it is used for reprocessing, the scrap or waste value is taken at a rate of input cost depend .....

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