CA,CS Mehul Bhanawat (Job) (204 Points)
10 December 2012Q. Whether cement manufacturing company is liable for levy of excise duty on sale of scap?
1. Brass scrap.
2. Copper Scrap.
3 Scrap TMT tor steel, TMT for steel.
4. used wooden & steel.
Please provide your opinion on light of this issue with the help of case laws or notification if any.?
As company is deducting TCS on such sale.
Thanks in adv................
Rakshit
(practising)
(338 Points)
Replied 10 December 2012
TCS is related to Income Tax. Excise duty on scrap is leviable only when it has arisen from cenvated materials or during the manufactre of related metal products.
Raksh*t advrcverma @ gmail.com
CA,CS Mehul Bhanawat
(Job)
(204 Points)
Replied 10 December 2012
| Originally posted by : CS Mehul Bhanawat CA-FINAL | ||
 |
Q. Whether cement manufacturing company is liable for levy of excise duty on sale of scap? 1. Brass scrap. 2. Copper Scrap. 3 Scrap TMT tor steel, TMT for steel. 4. used wooden & steel. Please provide your opinion on light of this issue with the help of case laws or notification if any.? As company is deducting TCS on such sale. Thanks in adv................ |
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U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 December 2012
as you have already cleared that the company is manufacturing cement and not these items, so either these are capital goods with cenvat creait taken or others ( including capital goods without cenvat credit)
only in case if cenvat credit is availed, on such goods , the duty is payable.
TCS is a different chapter, which is to be levied on scrap generated during production.
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 13 December 2012
Specified Goods for TCS
In view of this you are not lible to TCS. only sales Tax/Vat/ Excise lible on sale of capital goods./machinery parts
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