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?
No. you are just selling imported scrap material, hence no question of TCS levy.
Shyam S Gupta and Company
New Delhi
CA Inter
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Krea University
Chennai
CA
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CCI
Pro
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