Tcs
This query is : Resolved
PARMOD KUMAR
(Querist)
13 September 2011
Dear Sir,
we are the traders, we have purchased the scrap and sales the scrap. we are liable to TCS or not?
we are the traders, we have purchased the scrap and sales the scrap. we are liable to TCS or not?
Ram Avtar Singh
(Expert)
13 September 2011
When you have purchase you have paid TCS then at the time of sale tcs not to be charge.
13 September 2011
Yes you are liable to TCS
Abhishek Ranjan Singh
ARS Solution
email2ars@gmail.com
+91 9022838615
Abhishek Ranjan Singh
ARS Solution
email2ars@gmail.com
+91 9022838615
PARMOD KUMAR
(Querist)
14 September 2011
We have paid the TCS at the time of purchase the scrap.
Hari Beldona
(Expert)
14 September 2011
Every person being a seller of specified goods is required to collect tax at source from buyer at the prescribed rate. The specified goods and the prescribed rates now prevailing are given below:
Scrap:One per cent
You are liable for TCS
Your liability is discharged at the time of purchase itself.
Only thing you have to collect TCS Certificate from the seller.You will get credit of tax
Scrap:One per cent
You are liable for TCS
Your liability is discharged at the time of purchase itself.
Only thing you have to collect TCS Certificate from the seller.You will get credit of tax
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