Is TCS is collected in respect of Scrape Sales only? If yes
then what will Scrape includes?
Answers were Sorted based on User's Feedback
Answer / shiwani vaishnav
No, TCS (Tax collected at Source ) does not mean it only
include scrap only,it is applicable on tendu leaves,
liquor,timber, toll paza, mine etc.Scrap means a product
which is product by default on every
produce material.
Is This Answer Correct ? | 11 Yes | 0 No |
Answer / madan roy
TAX COLLECTION AT SOURCE BY SELLER OF CERTAION GOODS:-
Every seller shall collect tax at source in the case of
follwing specified goods:-
1.TENDU LEAVES
2.TIMBER-obtained under a forest lease or under any other
mode;or
any other forest produce not being timber or tendu leaves;
3.Alcoholic liquor for human consumption ;or
4.SCRAP
Sracp includes waste and scrap from manufacture or
mechanical working of madterials which is definitely not
usable as such bacause of breakage, cutting up,wear and
other reasons.
Is This Answer Correct ? | 4 Yes | 1 No |
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