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TCS on alluminum scarp

Others 586 views 8 replies
Hello Sir

i wan to start trading business of alluminium scrap and its HSN code is 76020010. So TCS applicable on this item or not ? and if yes How many rate applicable for the same.
Replies (8)
Yes, If You want to deal scrap business then TCS applicable as one percent...

If You Purchase scrap then Your supplier collect TCS
If You Sale scrap then You will collect TCS from Your customer...
Sale of scrap gst is also applicable
Originally posted by : sabyasachi mukherjee
Sale of scrap gst is also applicable

Naaraayanaa... Intha kosu thollai thaanka mudiyala, Naaraayanaa...

😇😇😇😇😇😇😇😇😇

Dr. Bank 110

Cr. GST 3.5

Cr. Sgst 3.5

Cr. Tcs 3

Cr. Sales 100

 

Originally posted by : Yasaswi Gomes new
Dr. Bank 110

Cr. GST 3.5

Cr. Sgst 3.5

Cr. Tcs 3

Cr. Sales 100

 

Why this?

and 

What is this...??

 

 

I'm practicing GST plus tcs entries.

Originally posted by : Yasaswi Gomes new
I'm practicing GST plus tcs entries.

Ohhh okay okay...

Tcs stands for tax collected at source.


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