https://www.taxtmi.com/article/detailed?id=1882 Captive consumption attracts excise valuation based on an assessable value derived from the cost of production. Cost of production aggregates material consumed, direct wages, direct expenses, works overheads, quality control, R&D, packing and production related administrative overheads, adjusted for opening and closing stocks, recoveries from scrap and by products, and miscellaneous production income. Joint products require rational allocation of joint costs and by product realizations are credited to main product cost. Exclusions include financial charges and abnormal or nonrecurring costs. The prescribed uplift over cost of production is applied to arrive at the assessable value. en-us Mon, 10 Sep 2012 09:20:09 +0530 Mon, 10 Sep 2012 09:20:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1882 Captive consumption attracts excise valuation based on an assessable value derived from the cost of production. Cost of production aggregates material consumed, direct wages, direct expenses, works overheads, quality control, R&D, packing and production related administrative overheads, adjusted for opening and closing stocks, recoveries from scrap and by products, and miscellaneous production income. Joint products require rational allocation of joint costs and by product realizations are credited to main product cost. Exclusions include financial charges and abnormal or nonrecurring costs. The prescribed uplift over cost of production is applied to arrive at the assessable value. Articles Central Excise Mon, 10 Sep 2012 09:20:09 +0530 https://www.taxtmi.com/article/detailed?id=1882