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of <h1>Revised CAS-4 Guidance: Framework for Costing Excisable Goods for Captive Use, Ensures Compliance with Central Excise Rules</h1> The revised guidance note on Cost Accounting Standard 4 (CAS-4) by the Institute of Cost and Works Accountants of India provides a framework for determining the cost of production for excisable goods used for captive consumption. It outlines the principles and methods for calculating production costs, including materials, wages, overheads, and other expenses, ensuring compliance with the Central Excise Act and related rules. The standard mandates that the cost of captively consumed goods be assessed at 110% of the production cost, addressing valuation for goods not sold but used internally. It also includes guidelines for valuation adjustments, treatment of joint products, by-products, and scrap, and emphasizes the importance of maintaining accurate cost records for compliance and certification purposes.
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