TCS on sale of Fly Ash

[Pradeep Sarangi]

Dear Expert,

Whether TCS is applicable u/s 206C of IT act on sale of FLY ASH ? What will be the GST rate and HSN for same ? Please update.

Regards

Pradeep

[KASTURI SETHI]

(i) HSN 2621 Rate 5%. Notification No.43/17-I.T.(R) dated 14.11.17.

(ii) Classification and rate depends upon the nature/kind of the product. So also see the following decision of AAAA depending upon nature/kind of the product.

2021 (10) TMI 148 - APPELLATE AUTHORITY FOR ADVANCE RULING, GUJARAT - IN RE : DIPAKKUMAR RAMJIBHAI PATEL

 

[Pradeep Sarangi]

Actually the content was that, Fly Ash is covered under 206C of Income Tax Act or not. if its fall under the act then TCS is applicable on sale of Fly Ash u/s 206C or not ?

[KASTURI SETHI]

"Query : Whether TCS is applicable u/s 206C of IT Act on sale of FLY ASH ? What will be the GST rate and HSN for same ? Please update."

Your query pertains to Income Tax and GST both. Issue pertaining to Income Tax Act is not my cup of tea. Hence I replied in respect of GST issue only.

AI Summary

Expert Clarifies GST Rate for Fly Ash as 5% Under HSN 2621; TCS Applicability Under Section 206C Unaddressed A participant inquired about the applicability of Tax Collected at Source (TCS) under section 206C of the Income Tax Act on the sale of fly ash, as well as the relevant GST rate and Harmonized System of Nomenclature (HSN) code. An expert responded, indicating the GST rate for fly ash is 5% under HSN 2621, referencing Notification No. 43/17-I.T.(R). The expert clarified that their expertise is limited to GST matters and not Income Tax, suggesting the classification and rate depend on the product's nature, with reference to a specific ruling by the Appellate Authority for Advance Ruling, Gujarat.