Accounting for captive consumption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2013 Experts,

Please suggest me regarding accounting treatment(also presentation in Revised Schedule VI) in the following scenario:

Let us say there are 2 units-A & B.

Unit A has transferred its FG to unit B for its captive consumption through excise invoice.

Kumar

Kumar (Expert)
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19 August 2013 The FG has to be valued at cost to Unit A as at the reporting date.

Excise duty billed by Unit A can be availed as input credit by Unit B