TCS ON SCRAP

Guide me about TCS on scrap %

guide me on tcs on scrap sale

hi,

could anyone tell me whether tcs is applicable on sale of scrap from the manufacture or mechanical working of materials or on any scrap sale?

Hi all,

My company manufactures auto parts, but recently scraped and sold Rotary table (made inhouse from iron sheet cuttings could be waste) to one of its creditors and that creditor uses it as its asset, whether TCS is applicable, Rotary table is never capitalized. Please give opinion with discussion.

Regards,

Rakesh Aggarwal

If I sale the Iron Scrap to Kabadi wala and He has no PAN Number

and I have to Deduct the TCS ot Not

we have a manufacturer of Auto Parts. If we have sale to a Kabari we have deduct tcs of not.

We have deduct tcs of not when we have sale to any manufacturing unit

tcs applicable or not when we have sale of scrap to a Kabari

tcs applicable or not when we have sale of scrap to a Manufacturer

tcs applicable or not when we have sale of scrap to a Kabari

tcs applicable or not when we have sale of scrap to a Manufacturer

I have collect TCS on Sale of Scrap @ 1.133% and similarly deposited the same through E-Payment. Now, I am preparing E-TCS Return and in a point I got confused that in the Challan Details there is a Column before TCS Amount that is Collection Code which has a drop down box containg A, B, C, D, E, F, G, H,I. So, which code should I mention ? Kindly suggest.

Thanking you Sir.

I have collect TCS on Sale of Scrap @ 1.133% and similarly deposited the same through E-Payment. Now, I am preparing E-TCS Return and in a point I got confused that in the Challan Details there is a Column before TCS Amount that is Collection Code which has a drop down box containg A, B, C, D, E, F, G, H,I. So, which code should I mention ? Kindly suggest.