Tcs on scrap trading

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Prop
21 Points Joined April 2019

We are a trading firm engaged in trading of imported ferrous and its alloy scrap (imported from other countries).

We wanted to know if TCS is applicable on trading of IMPORTED scrap or not? i.e. when we sell it to other traders, are we liable to deduct TCS or not?

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On 05 April 2019 at 08:26 Report
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344 Points Joined May 2017
No TCS since scrap is defined under explanation to 206C(1F) and says scrap from mfg or mechanical process when material not usable as such
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On 06 April 2019 at 23:04
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owner
299 Points Joined February 2019

No. you are just selling imported scrap material, hence no question of TCS levy.

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On 07 April 2019 at 08:09

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