Question ID : 549

TCS on Scrap by PSU

A PSU mg company engaged the excavation of iron ore and sellg it domic as well as export markets. Manganese and steel sheets are used for fabrication works crushg, screeng and loadg pnts. Scrap is obtaed while dismantlg some worn-out areas of these pnts.

Worn out conveyor belt pieces, rollers, pulleys, cables, wire ropes, batteries, dismantled metal sheets, used and unserviceable spares of dumpers, dozers, shovels, etc are sold auction from time to time. Is PSU a `dealer scrap rials? Is it required to register and obta the TCN? Whether tax is required to be collected at source under Section 206 C of the I-T Act?
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