Tcs on scrap
This query is : Resolved
28 February 2015
Firm A purchases metal scap from western railway. TCS is collected from firm A by railway. Firm A is a scrap dealer. He sells the scrap purchased to other scrap dealers. Will TCS be applicable when firm A sells scrap to other scrap traders ?
28 February 2015
TCS will be applicable to firm A when it sells scrap to other scrap traders.
28 February 2015
The Firm A purchases Train wagons and engines from railway, will this qualify as manufacturing scrap ? firm A dismantles the engines and sells the parts to other traders. Does the product in question satisfy the definition of Scrap ?
28 February 2015
Purchasing wagons and engines from railway is not a manufacturing scrap. Dismantling and selling amount to sale of scrap.
11 March 2015
Thanks very much for your reply sir. Please can anyone give me some cases which support the fact that even though there is no manufacture still the scrap is liable to TCS.
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