https://www.taxtmi.com/article/detailed?id=6605 Valuation for captive consumption uses cost-based valuation (commonly Rule 8), and CAS-4 requires scrap and waste used for reprocessing to be valued at the input-cost appropriate to the recycling stage less costs to make it reprocessable. Actual scrap sales, adjusted for opening and closing stock, are deductible from cost of production for the period; if unsold, realizable value may be estimated from market quotations. Accurate records of process inputs, outputs and scrap quantities are required, and the scrap value so calculated is deducted to determine cost of production for valuation. en-us Sat, 26 Dec 2015 11:20:57 +0530 Sat, 26 Dec 2015 11:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6605 Valuation for captive consumption uses cost-based valuation (commonly Rule 8), and CAS-4 requires scrap and waste used for reprocessing to be valued at the input-cost appropriate to the recycling stage less costs to make it reprocessable. Actual scrap sales, adjusted for opening and closing stock, are deductible from cost of production for the period; if unsold, realizable value may be estimated from market quotations. Accurate records of process inputs, outputs and scrap quantities are required, and the scrap value so calculated is deducted to determine cost of production for valuation. Articles Central Excise Sat, 26 Dec 2015 11:20:57 +0530 https://www.taxtmi.com/article/detailed?id=6605