Hi,
Can any one give me a clear proviosn on GST regarding, Sale of Scrap pertaining to the Industry which is in Service sector. When it sells Scrap like Waste Papers, Computer scrap etc, is GST applicable on such sale ? Can anyone clarify regarding this.
Thank you !
Yes service industries also liable for scrap sale as they are also eligible for input tax credit on all purchases on which they pay GST subject to sec 17(5). You may examine the items classify and charge as per rate. If not determinable charge GST @ 18%
Paper Scrap(HSN 4707) GST 5%, Computer Scrap (HSN 85 ) GST 5%.
For more information refer www.skmadvisory.com
TCS APPLICABLE ON SCRAP SALES
Hello Sir,
I work for a film city. Here this company puts various sets for film making (say big boss set). Once the set is over they will remove this set. However in some cases the company will retain this set to attract visitors. Once the fame is over, these retained sets are removed/ demolished. So, are these sets are to be treated as immovable property for the purpose of GST credit?
Please clarify for both the above cases. Can I take GST credit of materials used for this set? Maily we use steel, cement etc.
Please clarify.
For HSN Code wise rate of GST on sale of Scraps visit following link....
https://skmadvisory.com/gst-on-sale-of-scraps/
Computers are disposed as scrap. Please advise the GST exposure
For HSN wise summary on GST on sale of scrap visit following link
This link is not working. Please check and kindly share your views on sale of scrap of computer parts and products.
It is E Waste. GST payable @ 5% on sale of computer as scrap.
I AM A COMPOUNDING DEALER . I WANT TO SELL MY SCRAP . IS IT APPLICABLE FOR TAX?
GST rate on scrap is 18% and for computer and electronics, it is 28%.
IF COMPOUNDING DEALER ALSO LIABLE TO PAY TAX AT FULL RATE ON SCRAP SALE ?
CAclubindia
