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Sale of scrap taxable

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(Querist)
23 January 2013 is sale of scrap taxable ??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 January 2013 yes. scrap sale is also taxable under VAT
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Pranav

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Pranav (Querist)
23 January 2013 so while calculating my cash inflows do I count as an inflow if i have saved on sale of scrap ??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 January 2013 while considering your cash inflow on scarp, you need to consider the VAT portion also as cash outflow

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