Scrap sale of old machinery
This query is : Resolved
24 December 2013
We are manufacturers. We are dismandling the machinery and sold as scrap. what is the tariff no & rate of duty applicable for this scrap sale? whether vat & Tcs also applicable for this? Please guide me the procedures to be followed?
24 December 2013
Duty will be payable on scrap as per classification of scrap.
30 May 2014
yes you have to pay excise duty and also vat as per your state rate and TCS also charge.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- DELIVERY BY CREDITOR
- Cgst and Sgst liability set off
- Doubt in Form AOC 4
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
