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of <h1>Tax Collection Rates Revised: Section 206C Amended for Alcohol, Timber, Scrap, and More; Seller Definition Expanded</h1> Section 206C of the Income-tax Act was amended effective June 1, 2003, by revising the table in sub-section (1) to specify tax collection rates for various goods: 10% for alcoholic liquor and tendu leaves, 15% for timber from forest leases, 5% for other timber, 15% for other forest produce, and 10% for scrap. The Explanation below sub-section (11) was also amended to redefine 'scrap' and 'seller,' clarifying that 'seller' includes government entities, corporations, companies, firms, and individuals or Hindu undivided families exceeding specified sales or turnover limits.
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