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Rule 8: excisable goods are used for captive consumption

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2016 Valuation of goods which are consumed shall be 110% of cost of production of such goods. However, we were informed by one manufacturer that only cost of production as per previous year audited financial statements are considered for above rule. No relevance is give to record ascertaining actual cost of production of goods actually used for captive consumption.
please clarify
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Nilesh

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Nilesh (Expert)
11 March 2016 Cost of production as per CAS-4 is recommended
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