Dear Sir
under-construction company sales their scrap nil rate or chargeable? & What rate charge in Bill.
If Their sales scrap sold in Cash for what limit for Cash Sales
cash transaction above RS.2 lacs under sec 269T of income tax act attract penalty equivalent to amount of transaction hence cash txn > 200000 are banned we'd April 2017.
Also Sale of scrap are taxable supplies under GST act and GST is payable on the same.Rate of GST of scrap depend upon the nature of scrap classification.
CAclubindia
