Go CAclubindia Pro for 3 Yrs at a greater value. Subscribe Now!

Retreading of tyres for sec 206c

Save Share

This query is : Resolved

Narendra Kumar (Querist)

06 May 2016 Dear Friends Very Good Morning.

Kindly advise me on the following issue:

Whether "retreading of OTR & Light Vehicle Tyres and reconditioning / repairing of conveyor belts" is a manufacturing process for the purpose of TCS under Section 206C of Income Tax Act.

What is the meaning of "manufacturing, processing or producing articles or goods...." for the purpose of Income Tax Act. Whether the meaning or explanation has to be taken as per Excise Act.

Pl suggest case laws also.

Thanks and Regards

Narendra Kumar

Rupesh Jain

Rupesh Jain (Expert)

06 May 2016 retreading not process scrap, who's liable to TCS. tcs applicable on scrap generate during the mfg process. its means you are producing somthing like iron pipe, and then iron cutting etc generate during the this process, its not use as is it , then its liable to TCS.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now