TCS on Scrap

Others 447 views 1 replies

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.

Replies (1)
The limit is 50 lakhs per customer per year on an aggregate basis. yes he is liable to collect TCS on sale of scrap as per the new provisions.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details