Hi,
can anybody tell which scrap Sales to be Consider for Charging TCS U/S-206C. i.e.What is Scrap means under Sec.206C
Regards,
Rudresh
Rudresh.B.M (Article Assistant) (38 Points)
26 June 2008Hi,
can anybody tell which scrap Sales to be Consider for Charging TCS U/S-206C. i.e.What is Scrap means under Sec.206C
Regards,
Rudresh
Ramakrishna
(Financial Executive)
(438 Points)
Replied 28 June 2008
Dear Rudresh,
The term 'Scrap' subject to TCS, has been defined in Explanation (b) below Section 206C as under;
'Scrap' means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons;
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