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Excise records to be maintained when finished goods sold to related persons.

Central Excise - Started By: - vinay wakde - Dated:- 13-4-2016 Last Replied Date:- 18-4-2016 - We are selling our finished goods to related persons as well as to non-related persons. The value of goods sold to related persons determined as per Rule 10 of the valuation rules i.e. excise duty would be payable on 110% of cost of production of such goods. Notification No. 14/2013 - CE (N.T.) dated November 22, 2013 with effect from 01.12.2013 onwards. Kindly give your valuable guidance for keeping E .....

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urther the Audit Officers would examine the accuracy of certificate to be issued by the Cost Accountant.Certificate is more than sufficient but the Officers can go to any extent. They may check the basis of the certificate i.e those docs on the basis of which Cost Accountant would issue certificate. So keep those records ready. It is pertinent to advise that all the relevant records asked for by the Cost Accountant must be produced before him. Nothing should be skipped. - Reply By surya narayana .....

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