(I) After import of scrap from outside of Indian Territory, Trader sale within India to retail traders as well as manufacturers. Is he liable to collect TCS from Traders u/s 206c??
(ii) If Trader purchase scrap within India and sale it within India to Retailers and Manufacturers, is he liable to collect TCS on Scrap ??
(iii) If books get Audit U/s 44AD, is he follows all Audit rules??
Plz clear.
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TCS on Sale of Scrap as Trader
Replies (1)
Scrap shud be mfg or mechanical working of goods so not liable to collect tcs according to me
Other views welcome
Secondly tcs is collected so in both cases the position is same for the trader since selling goods withinn india only
For audit sec 44ab apply not 44ad and audit will be as per that rules
Other views welcome
Secondly tcs is collected so in both cases the position is same for the trader since selling goods withinn india only
For audit sec 44ab apply not 44ad and audit will be as per that rules
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