The value of Consumption shall be one hundred and ten per cent of the cost of production or manufacture of such goods.

[MUNIRAJ SRINIVASAN]

Where the excisable goods are not sold by the assessee but are used for consumption by him or on his behalf in the production or manufacture of other articles, the value shall be one hundred and ten per cent of the cost of production or manufacture of such goods.

AI Summary

Valuation of Excisable Goods for Captive Use Set at 110% of Production Cost Under Central Excise Law The discussion focuses on the valuation of excisable goods used for captive consumption, where the value is set at 110% of the production or manufacturing cost. The query was initiated to clarify this provision under Central Excise law. A respondent, identified as a chartered accountant, noted that the provision applies when goods are not sold but used by the assessee in manufacturing other articles. The respondent also mentioned that the original query lacked specificity.