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

TCS applicability on sale of fly ash under section 206C questioned; GST classification noted under HSN 2621 at 5%.
Whether Tax Collected at Source applies to sales of fly ash under the Income Tax Act was raised, but the respondent declined to advise on Income Tax. For GST, the respondent advised classification under HSN 2621 with a 5% rate while noting classification and rate depend on the specific nature of the product and citing an advance ruling as relevant.