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TMI BlogInsertion of capital goods in Input definitionX X X X Extracts X X X X X X X X Extracts X X X X ..... Sirs, In the recent budget input definition under CCR, 2004 was amended and a new clause (v) is inserted in rule 2(k) i.e., input means all capital goods having value upto 10000 rupees per piece. query: CG having value upto 10000 per piece means is it the assessable value or the invoice value (i.e., value including all taxes) - Reply By KASTURI SETHI - The Reply = Invoice value. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply By Rajagopalan Ranganathan - The Reply = Sir, With due respects to the views of Shri Kasturi Sethi Sir, my view is that vlaue of ₹ 10000 per piece means the transaction value excluding all tases payable /paid on the CG. - Reply By Rajagopalan Ranganathan - The Reply = sir, In my reply dated 20.4.2016 please read tases as taxes. The error is regretted. - Reply By KASTURI SETHI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Reply = Sir, There is neither the word, 'Transaction' nor the word, 'price' in the notification issued. However, I can assume that Sh. Ranganathan, Sir, may be right. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = I endorse the views of Shri Rajagopalan. - Reply By surya narayana - The Reply = Dear Friend , In my view it is the Assessable value/Transaction value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the piece and not the invoice value. The word indicated in the Rule is Value and not the cost to consider invoice value. Best Regards Suryanarayana - Reply By arbs sarma - The Reply = Thank you sirs for expressing your views. - Reply By Ganeshan Kalyani - The Reply = Sir I would like learn what is the difference between 'Value' and 'Cost' ? - Reply By surya narayana - Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply = Dear Kalyan Ji In general parlance, the value represents the assessable / transaction value for the purpose of payment of duty and the cost represents the total amount paid to a particular material which includes, duties, other taxes and freight and other handling charges . This differentiation is generally considered while inventorizing the material in the books of accounts. Best reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ards Suryanaryana - Reply By Ganeshan Kalyani - The Reply = Sri Surya Sir thanks a lot for clarifying my doubts. Thanks. - Insertion of capital goods in Input definition - Query Started By: - arbs sarma Dated:- 20-4-2016 Central Excise - Got 10 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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