ITS Urgent TCS

This query is : Resolved 

28 July 2008 Dear Frnds,
pl answer me that
Scrap Mat. Value 100/-
Excise Duty 16/-
VAT 5/-
whether TCS rate 1.03% will be applied on
116/- or 121/-
That is rate will be applied on including of VAT or ....

28 July 2008 This rate has to be applied on gross value of material. It will be collected by seller of scrap.

28 July 2008 Sir

I want know that whether it is inclusive of Excise Duty, Vat or only includes Excise duty




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