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Valuation of intermediate products used for captive consumption - Frequency or periodicity of costing in terms of CAS-4

Central Excise - By: - CA Surender Gupta - Dated:- 30-9-2016 Last Replied Date:- 6-3-2017 - In the present case, there is no sale of iron ore concentrate by the appellant and clearance to sister unit for further use is subjected to excise duty and va .....

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ference: - Manufacturer followed different value during the same financial year based on revision of costing within the year more than once. - Revenue contended that the costing should be annual basis and, hence, during whichever month the value happ .....

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t of production will depend upon the significance in the changes in the cost due to various factors like input cost fluctuations, changes in the employee cost and other expenses. It further notes that where goods are cleared on cost of production wor .....

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taken credit of as the case may be. In such circumstances, it is advisable to compute the actual material cost as per the issue valuation adopted by the assessee for material issues. Further, in the FAQ on CAS-4 the ICAI clarified that cost determina .....

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rdingly tribunal [2016 (9) TMI 1175 - CESTAT NEW DELHI] observed that: On perusal of the guidelines by the ICAI, we find while arriving at costing based on CAS-4 the correct method will be to determine the same based on actual audited data as per the .....

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ing the issue of Valuation as per CAS-4 on annual bases and raising demand of duty or claiming refund of excess paid duty are: M/s. Godrej Consumer Products Ltd. Versus CCE &ST, Indore [2015 (2) TMI 1075 - CESTAT NEW DELHI] Commissioner of Centra .....

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