TCS on Scarp sale
&
When & to whom liability to collect TCS on scrap arises?
Please help me out....
I would further like to know if we are just trading in scarp thn also do we required to collect TCS..
As we know if we are selling to purchaser thn seller is not required to collect TCS.
If Firm A is a manufacturing unit and sold the scrap to Firm B which is a trader.
Firm A collects TCS from Firm B.
Now Firm B which is a trader sell that scrap to others including traders & manufacturers.?
Now from manufacturers Firm B can obtain Certificate and wont collect TCS
And When firm B sold the same to traders It will be liable to collect TCS.
Is this example correct.?
TCS to be collect by saller every point on sale of scrap.
For your kind cooperation
I have taken the interpretation from many other CA's.
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