my query is regarding TCS, when we sale scrap shall we elligable to charge tcs on sale value of scrap, if not then what are the tax we have to be charged when we sale scrap
29 April 2013
If such Scrap is arising out of the production activity carried out by you than only TCs will be applicable otherwise TCs is not applicable on the Sale of Scrap.
However local sales tax may be applicable as per the rule of a particular state government and vat may be chargeable on the Sale.
CAclubindia
