Scenario: CIN (Country India Version)
Scrap sales calls for Withholding tax in India which means Manufacturer pays the government TCS (Tax Collected at Source) and this tax is collected from the buyer of scrap.
Untill recently,
TCS base was 1% post excise amount
+ 10 % of TCS base was Surcharge
+ HCess was 2 % of TCS base
+ Cess was 1 % of TCS base
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