Capitive consumption and sale value
This query is : Resolved
Santhosh Ganesh
(Querist)
03 November 2014
A company producing Item A and consumes for its own use & it is selling the same to outsiders also.
If item A is an Non Excisible item then should we include the said capitively consumed value in computing the net sales heading of the P&L Account? which is filed to RoC and IT and Annual report
will the stand differ if the ITEM A is Excisibel
If item A is an Non Excisible item then should we include the said capitively consumed value in computing the net sales heading of the P&L Account? which is filed to RoC and IT and Annual report
will the stand differ if the ITEM A is Excisibel
Amol S Joglekar
(Expert)
03 November 2014
It is a prudent accounting practice to prepare manufacturing account and trading account where some of the manufactured material is used for captive consumption, whether or not it is excisable.
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