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NEW CGO COMPLEX : NH IV: FARIDABAD. Back |
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C.No. IV (16) 167/ Tech/DL- IV/2005 Dated : 24 .08.2005
TRADE NOTICE NO. 17/2005
Attention of the Trade and Industry is invited to the Para 21 of Boards Circular No. 354/81/2000-TRU dated 30.06.2000 clarifying that value of goods consumed captively under Rule 8 of Central Excise (Valuation) Rules’ 2000, shall be determined on cost construction basis even if identical or comparable goods are manufactured and sold by the same assessee.
It was further clarified vide CBEC Circular No. 692/8/2003-CX dated 13.02.2003 that the Institute of Cost & Works Accountants of India have since developed the Cost Accounting Standards CAS-2, CAS-3 and CAS-4 on capacity determination, overheads, and cost of production for captive consumption respectively and that the Cost of production of captively consumed goods will henceforth be done strictly in accordance with CAS-4 and copy of CAS-4 may be obtained from the local chapter of ICWAI.
The value of goods consumed captively shall accordingly be determined in accordance with CAS-4.
(RASHEDA HUSSAIN) COMMISSIONER CENTRAL EXCISE: DELHI – IV
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