TCS applicable on MS scrap

Hello

I want to start scrap trading business.. I have gst number . can I have to TCS number also for charge 1% TCS on scrap sale
Replies (4)
Quick Summary
If you're starting a scrap trading business in the UK, you'll need to understand Tax Collected at Source (TCS) regulations. TCS at 1% is applicable when you sell scrap. You will need a TAN (Tax Deduction and Collection Account Number) for this, which also covers TDS. Ensure you raise invoices correctly, including GST, to remain compliant.

Yes TCS applicable for scrap business.

Yes You want TAN number...
TCS at the rate 1% has to be collected if you are the seller of scrap
Raise invoice fir the same and include gst
There won't be TCS number. TAN number can be used for both TCS and Tds

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