TCS on sale of scrap should be calculated on the value inclusive of GST or Exclusive of GST ? Sofar we were collecting on nvalue inclusive of GST. SomeCAs have told that Depatment is objecting it on the ground of Mismatch in sale amount & TCS charged amount, as youhave shown sale amount 100 on wehich TCS comes 1/- while you collected TCS Rs.1.18 , Then should we collect TCS on Basic Sale amount ? In case In future if some officer raise objection on the ground that it should be on value inclusive of GST , then what action the department can take ?
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Mismatch in TCs on scrap
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TCS on scrap should be collected on value EXCLUDING GST (if GST is shown separately).
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