TCS ON SCRAP SALE

Save Share

This query is : Resolved

AZAD BHALLA (Querist)
Follow

02 January 2010 Dear Sir,

If a liquor co. sales its broken glass bottles scrap to a roadside scrap dealer than tcs is to be collected or not.

I think not to collect.

Please guide.

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
Follow

02 January 2010 In my opinion, glass bottles are packing material and waste or scrap of theres material is not come under the defination of scrap as per sec. 206C. Hence your thinking is correct.

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
Follow

02 January 2010 In my opinion, glass bottles are packing material and waste or scrap of theres material is not come under the defination of scrap as per sec. 206C. Hence your thinking is correct.

Bimal Thacker

Bimal Thacker (Expert)
Follow

02 January 2010 Yes, You and Vijay both are correct on non collecton of Tax. Selliing broken glass as scrape are not from the manufacturing activities and hence scrape arising from packing materials are not covered under TCS

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now