18 June 2008
whether the cost of gunny bags used to store & sell the manufactured sugar can be included in the cost for the valuation of finished goods.
and secondly, whether the excise duty paid on the gunny bags can be availed as cenvat credit. a case supporting the availment of cenvat will help me, as at present excise authorities has denied the cenvat on the same
18 June 2008
if the cost of gunny bags is charged separately in the invoice, then the cost of such bags should be added to the value of goods sold( transaction value). if such cost is not separately charged then no need to add, since the cost is already taken into account. And input credit on packing material used in packing of finished goods can very well be taken cenvat credit. even input credit on secondary and super secondary packing also can be taken as cenvat credit
CAclubindia
