Kindly clarify whether Income Tax TCS on sale of Scrap should be included in the Value of Supply and GST has to be charged on Income Tax TCS (or) TCS has to be charged on value of goods including GST? This question arises when the Section 15(2) of GST ACt on Value of Supply read "2) The value of supply shall include–––(a) any taxes, duties, cesses, fees and charges levied under any law for the time being in force other than this Act, the State Goods and Services Tax Act, the Union Territory Goods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act, if charged separately by the supplier;". Requesting Experts clarification.
Income tax TCS on sale on Scrap under GST
S PARAMESH (MANAGER - ACCOUNTS and ADMINISTRATION) (33 Points)15 July 2017