about sale of scarp

This query is : Resolved

RAKESH kumar (Querist)
Follow

01 December 2009 dear sir

a firm have Vat number of Trading concern.
but he know manufacturing products and scarp sale of iron.

if trader make scrap sale of iron then tcs is to deudted or not under income tax act because seller is Trdaer.

plz reply.
.......................\

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

03 December 2009 If trader seling Iron & Steel scrap TCS applicable on sale. but if purchaser provide Form No.27C for declaration for Manufacturing use of this scrap then TCS not to deduct on sa;e of scrap. collect 27C declaration form only.