dated 24.03.2009 with the direction to arrive the cost as per CAS-4. During pendency of appeal before Tribunal the Dy. Commissioner also confirmed ... cost accounting relied by the appellants relates to CAS-6, whereas for CAS-4 para 5.1 of guidelines note is applicable. CAS
revision, the appellant intimated the department about the revised cost alongwith CAS-4 certificate.
(f) even if the Revenue intends to adopt average cost method ... dispute is the frequency or periodicity of costing in terms of CAS-4. The appellants followed different value during the same financial year based
paid duty by adopting market value of MS ingots and obtained CAS-4 certificate for determining the value of goods cleared to their own inter ... letter dt.11.8.2014 determined the value as per CAS-4 certificate and quantified the duty of excess credit passed on to the Unit
determined by the appellants. This valuation was done without regard to CAS-4 (Cost Accounting Standards) adopted and implemented by the CBEC. The department issued ... cause notice for demanding differential duty on the goods based on CAS-4 value, with interest thereon, and for imposing penalty. The assessee replied, accepting
production computed in terms of Cost
Accounting Standard-4 ("CAS-4"). It is undisputed
that the excise duty paid on the goods cleared ... determination of value arrived under Rule 8 by
applying CAS-4, in respect of excisable goods cleared
to its own units and had directed
submits that cost of production must be
determined in accordance with CAS-4. Even the Circular
dated 15.1.2014 stated so. As per CAS-4, Selling
cost accountancy has to be taken. It was submitted that CAS-4 clearly specifies in heading 5.7 administrative overheads and heading 5.16 interest and financial ... must be determined on the basis of the method prescribed under CAS-4.
( a) Commissioner of Central Excise, Pune vs. Cadbury India Ltd. (supra
cost of production,
determinable in terms of CAS-4 prescribed by the Institute of Cost
Accountants of India.
11. The appellant claims that for this ... which were cleared
was subtracted, as is provided for in of CAS-4. However, royalty, clean
energy cess and development and environment cess were added
duty of excise, on the transaction value
determined as per the CAS-4 in terms of Section 4 of the Act read with
Rule ... captively consumed goods is to be
determined in terms of CAS-4 format as applicable to Rule 8 of the
Valuation Rules.
2.6 Despite
products and the value which should have been adopted
as per CAS-4:-
(Value in Rs. Per MT)
Period CAPROLACTAM SULPHURIC ACID
Invoice ... value was arrived at by adopting
previous year's CAS-4 certificates. Therefore, adjustment of excess
payment of excise duty against short payment
