TaxTMI 
TaxTMI 
Insertion of capital goods in Input definition
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....nsertion of capital goods in Input definition<br> Query (Issue) Started By: - arbs sarma Dated:- 20-4-2016 Last Reply Date:- 22-4-2016 Central Excise<br>Got 10 Replies<br>Central Excise<br>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 ha....
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....ving value upto 10000 per piece means is it the assessable value or the invoice value (i.e., value including all taxes) Reply By KASTURI SETHI: The Reply: Invoice value. Reply By Rajagopalan Ranganathan: The Reply: Sir, With due respects to the views of Shri Kasturi Sethi Sir, my view is that vlaue of ₹ 10000 per piece means the transaction value excluding all tases payable /paid on the....
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.... CG. Reply By Rajagopalan Ranganathan: The Reply: sir, In my reply dated 20.4.2016 please read tases as taxes. The error is regretted. Reply By KASTURI SETHI: The Reply: Sir, There is neither the word, 'Transaction' nor the word, 'price' in the notification issued. However, I can assume that Sh. Ranganathan, Sir, may be right. Reply By MARIAPPAN GOVINDARAJAN: The Reply: I e....
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....ndorse the views of Shri Rajagopalan. Reply By surya narayana: The Reply: Dear Friend , In my view it is the Assessable value/Transaction value of the piece and not the invoice value. The word indicated in the Rule is "Value" and not the cost to consider invoice value. Best Regards Suryanarayana Reply By arbs sarma: The Reply: Thank you sirs for expressing your views. Reply By ....
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....Ganeshan Kalyani: The Reply: Sir I would like learn what is the difference between 'Value' and 'Cost' ? Reply By surya narayana: The Reply: Dear Kalyan Ji In general parlance, the value represents the assessable / transaction value for the purpose of payment of duty and the cost represents the total amount paid to a particular material which includes, duties, other taxes and fr....
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....eight and other handling charges . This differentiation is generally considered while inventorizing the material in the books of accounts. Best regards Suryanaryana Reply By Ganeshan Kalyani: The Reply: Sri Surya Sir thanks a lot for clarifying my doubts. Thanks.<br> Discussion Forum - Knowledge Sharing ....