Tax Collected at Source on Scrap Trading
This query is : Resolved
25 June 2009
Sir,
If a manufacturing unit purchases scrap from a trading unit for trading purpose, then will TCS be applicable?
If a manufacturing unit purchases scrap from a trading unit for trading purpose, then will TCS be applicable?
25 June 2009
Yes. There is discrimination as to the purpose of transaction. Hence TCS should be collected by the seller and can be claimed by the buyer in his return as the same way as TDS
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