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Regarding TCS

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This query is : Resolved

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This discussion clarifies the calculation of Tax Collected at Source (TCS) on scrap. The applicable rate is 1%, and it's important to note that TCS is deducted on the total invoice value. This includes both the selling price of the scrap and any applicable Goods and Services Tax (GST), meaning GST is not excluded when determining the TCS calculation base.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

22 April 2025 TCS ON SCRAP ON WHICH VALUE? INCLUSIVE GST OR EXCLUSIVE GST?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 April 2025 The applicable TCS rate is 1%

TCS Calculation Base:
TCS is deducted on the total invoice value, which includes:
Selling price of scrap + GST (if applicable).
No exclusion of GST while calculating TCS.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

28 September 2025 Good luck.....

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