TCS applicable on MS scrap

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9 Points Posted on 23 October 2023
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
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On 23 October 2023 at 19:56 Report
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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.

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"Do the Right Thing...!!!"
128157 Points Posted on 23 October 2023
Yes TCS applicable for scrap business.

Yes You want TAN number...
1 Reply
On 23 October 2023 at 21:58
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CFO- at NHTF
58280 Points Posted on 25 October 2023
TCS at the rate 1% has to be collected if you are the seller of scrap
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On 25 October 2023 at 04:53
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Profession
28271 Points Posted on 26 October 2023
Raise invoice fir the same and include gst
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On 26 October 2023 at 00:42
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CFO- at NHTF
58280 Points Posted on 26 October 2023
There won't be TCS number. TAN number can be used for both TCS and Tds
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On 26 October 2023 at 07:50

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