Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Declaration in form 27C

243 views

Save Share

Husen A. Dela

Accountant

61 Points Posted on 03 October 2021

I purchased scrap in March 2020 and gave declaration in form 27C that i am purchasing this scrap for manufacturing purpose and not for trading and hence no requirement of TCS. Now i want to sell this scrap to another party. Therefor if i sell it to another party declaration which i gave will be wrong.

Please suggest me in above matter.

Replies (2)

Quick Summary

You purchased scrap in March 2020, providing a Form 27C declaration stating it was for manufacturing purposes, not trading, to avoid TCS. Now you intend to sell this scrap to another party, who is also a manufacturer. This situation may invalidate your original declaration. Seek guidance on how to proceed correctly regarding your Form 27C and potential TCS implications when reselling the scrap.