TaxTMI 
TaxTMI 
Captive Consumption
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....aptive Consumption<br> Query (Issue) Started By: - JSW SEVERFIELD STRUCTURES LIMITED Dated:- 2-8-2011 Last Reply Date:- 10-8-2011 Central Excise<br>Got 8 Replies<br>Central Excise<br>Dear Sir, We are using some of our Intermediate products within the factory as captive consumption., and we have raised the Self Invoice by adopting Rule 8 of the Valuation Rules and discharged the duty. My query ....
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....here is am i eligible to avail Cenvat Credit on the Invoice raised by us as Self. Please offer your valuable suggestions for availing cenvat credit. Regards, ChittiLal. Agarwal. Reply By ajay singh: The Reply: Dear ChittiLal. Agarwal. You have to certify the cost of production on the basis of CAS- 4, from a cost accountant in practise, and on the basis of that certificate you can avail cred....
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....it. Reply By shamanthaka mani: The Reply: Notification No. 67/95-CE dated 16.3.1995 as amended exempts the intermediate goods if captively consumed from payment of duty. Therefore you need not pay duty on such goods just raising an invoice with a mention exempted udner Notification No. 67/95-CE dt.16.3.1995 is sufficient Reply By NEERAJ KUMAR, RANCHI: The Reply: Dear Mr Agarwal Mr. Mani has ....
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....correctly mentioned that as per notification no. 67/95 u need not pay duty for captive consumption of intermediate goods. But as far as your question is concerned that yo have issued invoice as per rule 8 of valuation rule that means on the basis of 110 % of the cost of productionn and paid duty accordingly on that. So in my opinion there is no prohibition in taking credit of that amount. Regards....
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...., Neeraj Reply By shamanthaka mani: The Reply: Yes, as Mr. Neeraj said credit can be availed on the basis of your invoices. There is no problem. Reply By NEERAJ KUMAR, RANCHI: The Reply: To add further to my reply, a CAS 4 certificate may be required by the department. Reply By kothapally Raji Reddy: The Reply: Dear Agarwalji Shri Shamanthaka Mani gave a correct reply by advising you to av....
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....ail exemption under notification 67/95CE . rrkothapally Reply By Mangesh Lokre: The Reply: The advise given by Mr shamanthaka mani is correct. There is no need to pay the Excise Duty, Reply By pradeep khatri: The Reply: Mentioning the Notification 67/95 is mandatory while issuing invoices for captive consumption.<br> Discussion Forum - Knowledge Sharing ....