Assessable value for captive consumption: add profit measured as profit before tax, excluding interest and depreciation. Fixing assessable value for captively consumed goods requires adding a profit component; the term "gross profit before tax" in the Board's earlier ... Summary
Assessable value for captive consumption: add profit measured as profit before tax, excluding interest and depreciation.
Fixing assessable value for captively consumed goods requires adding a profit component; the term "gross profit before tax" in the Board's earlier instruction means profit before tax and excludes interest, depreciation and similar charges, with profits considered net only after provision for payment of taxes.
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