Cas4 certificate
This query is : Resolved
25 March 2013
Dear CCI Members
i want to know CAS 4 certificate
1.to be prepared monthly/yearly basis
2.individual product wise/consolidated for all products.
3.how that is going to effect in CAS 4 if there is price increase of raw material in the middle of the month/year.
i want to know CAS 4 certificate
1.to be prepared monthly/yearly basis
2.individual product wise/consolidated for all products.
3.how that is going to effect in CAS 4 if there is price increase of raw material in the middle of the month/year.
25 March 2013
CAS 4: Cost of Production for Captive Consumption
CAS-4 can give the actual value/cost of production only after the end of the year.
The CAS 4 is applicable to the manufacturers who are registered under Central Excise, irrespective of the constitution of the organization. It does not make any difference whether the manufacturer falls in the category of proprietorship, partnership, co-operative sector, company etc.
AS per Rule 8 of the Central Excise Valuation (Determination of Price Of Excisable Goods) Rules, 2000,
Where the excisable goods are not sold by the assessee but are used for consumption by him or on his behalf in the production or manufacture of other articles, the value shall be one hundred and ten per cent of the cost of production or manufacture of such goods.
The Institute of Cost & Works Accountants of India [ICWAI] had developed the Cost Accounting Standards, CAS-4 for determining the Cost of Production.
The CBEC in CIRCULAR NO. 692/08/2003-CX, Dated: 13th February, 2003, had clarified that cost of production of captively consumed goods will henceforth be done strictly in accordance with CAS-4.
further info:
https://taxguru.in/wp-content/uploads/2011/09/Exposure_Draft_on_CAS4.pdf
CAS-4 can give the actual value/cost of production only after the end of the year.
The CAS 4 is applicable to the manufacturers who are registered under Central Excise, irrespective of the constitution of the organization. It does not make any difference whether the manufacturer falls in the category of proprietorship, partnership, co-operative sector, company etc.
AS per Rule 8 of the Central Excise Valuation (Determination of Price Of Excisable Goods) Rules, 2000,
Where the excisable goods are not sold by the assessee but are used for consumption by him or on his behalf in the production or manufacture of other articles, the value shall be one hundred and ten per cent of the cost of production or manufacture of such goods.
The Institute of Cost & Works Accountants of India [ICWAI] had developed the Cost Accounting Standards, CAS-4 for determining the Cost of Production.
The CBEC in CIRCULAR NO. 692/08/2003-CX, Dated: 13th February, 2003, had clarified that cost of production of captively consumed goods will henceforth be done strictly in accordance with CAS-4.
further info:
https://taxguru.in/wp-content/uploads/2011/09/Exposure_Draft_on_CAS4.pdf
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25 March 2013
Thankx for your reply Mr Ramesh.
Dear Ramesh
For the FY 2010-11,11-12,12-13 My company take a certificate from a CA,during the course of central excise audit the excise auditor rejected the certificate issued by CA.
Now the company want the CAS4 certificate for 2011-11-12-13.
Is it possible.
If u do not mind can i have ur mail ID so that i can send u complete query
Dear Ramesh
For the FY 2010-11,11-12,12-13 My company take a certificate from a CA,during the course of central excise audit the excise auditor rejected the certificate issued by CA.
Now the company want the CAS4 certificate for 2011-11-12-13.
Is it possible.
If u do not mind can i have ur mail ID so that i can send u complete query
25 March 2013
ji sir,
ramesh.arti@sify.com
ramesh.arti@sify.com
Message likes :
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25 March 2013
if raw material purchased in one unit transferred to another unit as such. CAS 4 certificate is required for that or not
26 March 2013
it is admissible if the IEC code is add in the list of this company ...
eminent expert please COMMENTS
eminent expert please COMMENTS
02 June 2016
Under Central Excise terminology it is called AS SUCH SALE. CAS-4 is applicable on manufactured items. Cost accountants determine the cost of production of a marketable product. CAS-4 can certify only a practicing Cost Accountant at any period if required.
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