Sirs,
In the recent budget input definition under CCR, 2004 was amended and a new clause (v) is inserted in rule 2(k) i.e., input means all capital goods having value upto 10000 rupees per piece.
query:
CG having value upto 10000 per piece means is it the assessable value or the invoice value (i.e., value including all taxes)
Debate on Central Excise Rules 2004: Does 'capital goods valued up to 10,000 rupees' mean assessable or invoice value? A discussion on a forum addressed the amendment in the input definition under the Central Excise Rules, 2004, which included a clause about capital goods valued up to 10,000 rupees per piece. The primary query was whether this value referred to the assessable value or invoice value. Opinions varied; some participants believed it referred to the invoice value, while others argued it was the transaction or assessable value excluding taxes. The discussion also touched on the difference between 'value' and 'cost,' with explanations provided to clarify these terms. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
