TCS U/s 206C(1H)
This query is : Resolved
22 December 2020
Dear Madam/Sir
Whether sale of scrap (like TMT Scrap, Structural Steel Scrap, Cement Bag Scrap etc.) in construction sector attract TCS U/s 206C(1H) ?
Regards,
Dilip Baranwal
Whether sale of scrap (like TMT Scrap, Structural Steel Scrap, Cement Bag Scrap etc.) in construction sector attract TCS U/s 206C(1H) ?
Regards,
Dilip Baranwal
22 December 2020
If TCS already deducted under scraps sale TCS under the section not applicable.
22 December 2020
TCS were not deducted in earlier as scrap were created in civil work and not from manufacturing or mechanical work. Now as scrap generate in civil contract work, whether TCS will be applicable U/s 206C(1H) effective from 01.10.20. (Sales already exceed Rs.80 lakh and Payment received were more then 50 Lakh during F.Y. 2020-21)
22 December 2020
In such a case TCS applicable under section 206C(1H).
22 December 2020
Thank you so much sir
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