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Assessable value

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 May 2011 Dear Experts,

Pls contribute to the following:

A Co mfg. final product for railway which was earlier ( before budget 2011) was exempted from Excise duty.

From budget 2011 the product fall under 1% excise duty as applicable.

Railway has been supplying steel for the mgf of final product free of cost(or reimbursable).

Now my question is after budget 2011, what will be the assessable value of the product, i..e, including the cost of steel or just actual cost?

thnx in adv
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U S Sharma

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U S Sharma (Expert)
26 May 2011 if railway is supplying the goods under ccr 2004 rule 4(5)a, or 214/86, then it would amount job work on behalf of railway, and service tax appliable

in absence of such challan, the assessable value will be inclusive of raw materials cost.
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Ashok Asthana

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Ashok Asthana (Expert)
26 May 2011 It depend how you are billing ? Assessable value will be the value being charged on your bill to railways.
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