Tcs on scrap sales
This query is : Open
manish purohit
(Querist)
01 May 2016
Sir,
my question is that we sold the scrap of bardan which comes from sugar consumption but buyer didnt have a pan card so what is the possibility of deduction of tcs or tcs only deduct on plastic scrap because it is not a plastic scrap it is bori like bardan not jute bag
02 May 2016
TCS under Section 206C is applicable only on sale of scrap arising from manufacture. The sack or containers used for packing raw material and/ or finished goods do not arise from manufacture. Accordingly TCS will not be applicable when these items are sold.
Rupesh Jain
(Expert)
02 May 2016
TCS applicable on mfg. process scrap only. in your case TCS is not applicable.
manish purohit
(Querist)
03 May 2016
Thanks sir for the reply
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