Hello everyone,
One of My Client is Trader of Iron Scrap & Prime Iron Steel, whose turnover is more than 10 Cr. and fall under new provision of TCS 206 1 (H), On scrap Steel he pay 0.75% TCS to seller, My queries are: - 1) is he liable to collect TCS on sale of scrap @ 0.75% and other Products which fall under 206 1(H) @ 0.075% in same invoice . 2) what is limit of Sales turnover to collect TCS on Scrap.
CAclubindia
