Accounting for captive consumption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2013
Experts,
Please suggest me regarding accounting treatment(also presentation in Revised Schedule VI) in the following scenario:
Let us say there are 2 units-A & B.
Unit A has transferred its FG to unit B for its captive consumption through excise invoice.
Please suggest me regarding accounting treatment(also presentation in Revised Schedule VI) in the following scenario:
Let us say there are 2 units-A & B.
Unit A has transferred its FG to unit B for its captive consumption through excise invoice.
19 August 2013
The FG has to be valued at cost to Unit A as at the reporting date.
Excise duty billed by Unit A can be availed as input credit by Unit B
Excise duty billed by Unit A can be availed as input credit by Unit B
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