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TCS on alcoholic liquor for human consumption??
Direct Taxation
TCS should be collected on alcoholic liquor for human consumption it means the bars & restaurant which we see generally collects tax from the people who buy there?? Is my interpretation correct??from whom we need to collect tcs??
Answers (5)
Yoga Vishnu
TCS is not applicable when the buyer purchases the goods for personal consumption. ( Except motor vehicle)
It means when we sale alcohol to another company Then we need to collect tcs..??
Thread Starter
vasabattula abhinavIt means when we sale alcohol to another company Then we need to collect tcs..??
Yes. If it not for personal consumption, then it is applicable
Yoga Vishnu
Yes. If it not for personal consumption, then it is applicable
There is another one like tcs on sale of scrap..if it's done to a business registered then we need to collect tcs???as sale of scrap generally done with individuals.?if taken under business name then we need to collect tcs??
Thread Starter
vasabattula abhinavThere is another one like tcs on sale of scrap..if it's done to a business registered then we need to collect tcs???as sale of scrap generally done with individuals.?if taken under business name then we need to collect tcs??
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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