TCS ON SALE OF RAW MATERIAL
This query is : Resolved
31 August 2024
for example I am dealer of Manufacturer and at the end of month or year I have sold wastage of raw material as an sale of scarp should I collect the TCS on the sale of scrap of Raw material or sale of scrap of finished goods?
31 August 2024
The provision is not applicable to dealer/s.
As scrap is defined as... scrap means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable.....
As scrap is defined as... scrap means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable.....
31 August 2024
I have purchased Raw material and manufactured and converted into finished goods and same finished goods sale to market but unused raw material which is not usable and sale of scrap then in that case it will apply tcs or not?
31 August 2024
No. It is unused raw material, that may have not be of any use, but it is not a 'Scrap' as per the term used in the act.
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