treatment of scrap sale

ashish (Querist) 19 September 2008 This query is : Resolved
r/sir,
during an assessment under vat (jharkhand),the a.c.c.t.want to treat the scrap sale as part of g.t.o.
the dealer deals in furniture business
,and if he sells cartoon or plastic as scrap ,then he has to pay the tax?

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VASANTH D JAGANATH (Expert) 19 September 2008
Yes tax can be leived on sale of scrap also

as sale of scrap is good and it is made during course of business liable for tax

ARVIND JAIN (Expert) 20 September 2008
Is it not a misc. income ? If yes, it will be taxable.

rajesh garg (Expert) 22 September 2008
VAT ON SCRAP SHALL BE LEVIED.

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