Sale of scrap taxable
This query is : Resolved
CMA Ramesh Krishnan
(Expert)
23 January 2013
yes. scrap sale is also taxable under VAT
23 January 2013
so while calculating my cash inflows do I count as an inflow if i have saved on sale of scrap ??
CMA Ramesh Krishnan
(Expert)
23 January 2013
while considering your cash inflow on scarp, you need to consider the VAT portion also as cash outflow
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