Is TCS is collected in respect of Scrape Sales only? If yes
then what will Scrape includes?
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Answer Posted / madan roy
TAX COLLECTION AT SOURCE BY SELLER OF CERTAION GOODS:-
Every seller shall collect tax at source in the case of
follwing specified goods:-
1.TENDU LEAVES
2.TIMBER-obtained under a forest lease or under any other
mode;or
any other forest produce not being timber or tendu leaves;
3.Alcoholic liquor for human consumption ;or
4.SCRAP
Sracp includes waste and scrap from manufacture or
mechanical working of madterials which is definitely not
usable as such bacause of breakage, cutting up,wear and
other reasons.
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