Selling price of aluminum rod to interunit
This query is : Resolved
03 August 2011
Pl. be inform that we sold our FG to our InterUnit @ 128.8 / Kg which is includes Raw metal + conversion + profit but we have not added 10% on Ass. Value as per the excise valuation.
But the above sell price is higher than the marketable price.
Kindly suggest if there is no issue at the time excise audit.
But the above sell price is higher than the marketable price.
Kindly suggest if there is no issue at the time excise audit.
Preety Parik
(Expert)
03 August 2011
Transfer to interunit as to be on 110% of Cost. Check the figures properly that raw material + Conversion Cost= X, transfer should be 110X.
Excise Audit will certainly observe the discrepancy.
Also u need to obtains CAS-4 certified by Cost Auditor.
Interest @ 15%p.a is payable on short payment of duty
Transfer to interunit as to be on 110% of Cost. Check the figures properly that raw material + Conversion Cost= X, transfer should be 110X.
Excise Audit will certainly observe the discrepancy.
Also u need to obtains CAS-4 certified by Cost Auditor.
Interest @ 15%p.a is payable on short payment of duty
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