Our company manufacturing excisable commodity and the same is selling to others and used for (Self) construction of roads which are not excisable. In this scenario what price should be adopted for goods used for construction of roads. Because, the goods sold to others obviously include profits? Please guide me in this issue.
2 Replies
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 16 June 2012
Goods used for self consump should be valued at 110 per cent of Cost (cost=as determined under Cost a/c std 4)
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