Tcs on scrap

Jinesh kumar sharma (Querist) 18 December 2012 This query is : Resolved
we are working in manufacturing cocern and produce metal crown cap in there scrap regularly generated with manufacturing process called TFS jalli scrap and this scrap sold to another manufaturing unit of iron ingots with the excise paid. this type of scrap sale in covered under tcs or not

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Raj Kumar Makkad (Expert) 18 December 2012
Yes, This sale shall duly come within tcs.

R K JAIN (Expert) 19 December 2012
No tax is required to be collected in case buyer submits the declaration in Form No. 27C that the scrap is used for manufacturing.

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