Scrap engine oil sale - tax
This query is : Resolved
SANJEEV KR GUPTA
(Querist)
20 January 2015
scrap oil of engine sale by our company (Automobile woekshop) what type of tax & rate applicable ?
CA. Anoop Bhatia
(Expert)
20 January 2015
If scrap arises on account of manufacturing process provisions of section 206C shall be applicable. However as per the example quoted by you the scrap oil is from an automobile workshop which appears to be service sector undertaking thus 206C should not be applicable.
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