TCS - scrap
This query is : Resolved
12 February 2010
We are selling scrap to various customers and sometimes we do sale some items as scrap to our own employees.
Do we need to deduct TCS when selling scrap to our own employees?
Kindly suggest in detail.
Do we need to deduct TCS when selling scrap to our own employees?
Kindly suggest in detail.
CA Prashant Gupta
(Expert)
12 February 2010
yes, TCS doesn't make difference between employee and other person.
TCS applicable on sale of scrap so deduct TCS on sale scrap to employees
TCS applicable on sale of scrap so deduct TCS on sale scrap to employees
Bimal Thacker
(Expert)
12 February 2010
Yes, I agree with the expert.
However the scrape should be of manufactured items. As normally it is misunderstood with other scrape.
However the scrape should be of manufactured items. As normally it is misunderstood with other scrape.
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