02 June 2016
DEAR ALL, JAI SHRI KRISHNA , PLEASE CLARIFY MY QUERY WITH RGARD TO TCS ON SCRAP MY CLIENT IMPORT SCRAP AND SELLS IN INDIA , 90 % SCARP AS SUCH, REST 10% SCRAP IS GOING TO MANUFACTURING ACTIVITY , WHETHER HE IS LIABLE TO COLLECT TAX OR NOT , PLEASE ANSWER WITH SUPPORTING CASE LAWS
02 June 2016
Scrap: means waste and scrap from the manufacture or mechanical working of material which is definitely not usable as such because of breakage, cutting up, wear and other reasons. in my opinion if you generate the scrap during the mfg. process then you have to collect tcs otherwise not required.
CAclubindia
