Please any body explain me what is CAS-4 certificate?
in excise matter I know about that anly CAS-4 means Cost accounting standard 4 & in that we have furnished all detail regarding our material send to sister concern only, inthat we have all detail of consumed material, wages. overheads, i know this all but i am not able to get CAS-4 certificate, in my range they asking for that can send me CAS-4 certificate.
Please any body explain me what is CAS-4 certificate?
in excise matter I know about that anly CAS-4 means Cost accounting standard 4 & in that we have furnished all detail regarding our material send to sister concern only, inthat we have all detail of consumed material, wages. overheads, i know this all but i am not able to get CAS-4 certificate, in my range they asking for that can send me CAS-4 certificate.
Please giv me urgently
I completely agree to views of Rajeshji on this thread- except a confusion as i had practical experience on this subject -
Ok, that we consider rejected/returned material as deemed input and enter the same to P-I
My question why the question of reversal of Duty arises. As ours was a PAINT Mfg.Co, we always used to get returned materials from Distributors due to XYZ reasons but not on Quality Grounds....ha..ha..
We used to take the same into PART-I, reprocess if needed and again there's a Sales transaction paying Duty on It. Please clarify...
Please any body explain me what is CAS-4 certificate?
in excise matter I know about that anly CAS-4 means Cost accounting standard 4 & in that we have furnished all detail regarding our material send to sister concern only, inthat we have all detail of consumed material, wages. overheads, i know this all but i am not able to get CAS-4 certificate, in my range they asking for that can send me CAS-4 certificate.
CAS-4 is a Statement of cost of production of an item manufactured/to be manufactured during the period which is to be collected from a practicing cost accountant of India.
Rule 8, of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000 provides 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 110% of the cost of production or manufacture of such goods.
“The Institute of Cost and Works Accountants of India has issued Cost Accounting Standard i.e. CAS-4 titled ‘Cost of Production for Captive Consumption’ for determination the Cost of Production of a productbased upon general principals of costing of a commodity” . The standard deals with determination of cost of production for captive consumption of a commodity.