Tcs on scrap sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2011
Hi all. We are a manufacturing yet but still at the project stage. We have not yet started our production. We are scrapping some of our waste to a person who is a Scrap Trader. I need to know whether we should charge TCS from him as we are in Project stage.
23 December 2011
TCS not required to be collected.
Scrap means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons. In the given case scrap does not result from manufacturing process. Therefore TDS not required to be deducted.
Scrap means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons. In the given case scrap does not result from manufacturing process. Therefore TDS not required to be deducted.
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