Dear Sir
under-construction company sales their scrap nil rate or chargeable? & What rate charge in Bill.
If Their sales scrap sold in Cash for what limit for Cash Sales
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Sales Of Scrap
Replies (9)
cash transaction above RS.2 lacs under sec 269T of income tax act attract penalty equivalent to amount of transaction hence cash txn > 200000 are banned we'd April 2017.
Also Sale of scrap are taxable supplies under GST act and GST is payable on the same.Rate of GST of scrap depend upon the nature of scrap classification.
Also Sale of scrap are taxable supplies under GST act and GST is payable on the same.Rate of GST of scrap depend upon the nature of scrap classification.
Thanks Surjeetji
welcome Raval Prashant ji.
sale of scrap would also attract the provision of TCS
Scrap of steel & iron GST @ 18% HSN code 7204
Scrap of Aluminium GST @ 18 % HSN Code 7602
Scrap of Aluminium GST @ 18 % HSN Code 7602
For Wooden Scrap what rate & HSN
Scrap/waste wood GST @ 5% HSN Code 4401
ok thanks vinodji
for plastic powder/polycarbonate scrap what rate & HSN CODE
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