One of my client buys scrap on which he pays TCS. Now when he resells such scrap is he liable to collect tax at source from the purchaser?
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TCS on Scrap
Replies (1)
1.Manufacturing not Involved - If the scrap dealer is selling the scrap 'AS IT IS' i.e without any modification/ processing, in that case he is liable to collect TCS from the buyer @ 1%.
2. manufacturing Involved - if there is any manufacturing process involed the it shall be treated as 'good' and therefore no TCS shall be collected.
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