Applicability of tcs u/s 206(c)
Querist : Anonymous
My question is whether I am Liable to Charge TCS keeping in mind that I am Trader & all my purchases are after paying TCS, Since I have not obtained any Form 27C
My second question is whether this is a multi Point tax or just levied at souces i.e. Manufacturers.
Querist : Anonymous
If Possible please provide the ruling as well
Hence you are not a manufacture, you are a trader therefore ypu are not liable to charge tcs.
Querist : Anonymous
But What you are selling as scrap is very important to look at, because only scrap arising from manufacturing activity is liable for TCS.
It is also pertinent to look at the heading of the section which uses the words " business of trading in..".
Querist : Anonymous
I have been dealing in only scraps generated from Manufacturing process, I have been paying TCS on all my purchases, but Am I liable to charge TCS on my sale as well.
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