Tcs on iron scrap
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2013
Dear Experts,
My Client is an Manufacturer, He purchases raw material( Iron) and sent it for job work to another person, than after job work he put it in the machines for the finished goods.
My question is that the Vendor to whom my client sent raw material for job work, charged minimum amount and keep the scrap.
my client book the expense for minimum charge charged by the Vendor( Who done the job work).
Is it is sale of scrap and any TCS liability on my client?
My Client is an Manufacturer, He purchases raw material( Iron) and sent it for job work to another person, than after job work he put it in the machines for the finished goods.
My question is that the Vendor to whom my client sent raw material for job work, charged minimum amount and keep the scrap.
my client book the expense for minimum charge charged by the Vendor( Who done the job work).
Is it is sale of scrap and any TCS liability on my client?
07 April 2013
It is not sale of Scrap if separate bill specifying the sale is not given. Adjust the amount in the payment made towards job work. TCS will not be applicable.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2013
Thank u Sir,
The bill shown only the Job Charges, There is no description about the scrap on bill. And my client also book the expenses charged as job charges only. There is no entry for the Scrap in the books.
The bill shown only the Job Charges, There is no description about the scrap on bill. And my client also book the expenses charged as job charges only. There is no entry for the Scrap in the books.
07 April 2013
Then there is no issue. TCS not attracted.
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