Tax collection at source on scrap sales requires seller collection, with no monetary threshold and a resident buyer declaration exception.

Tax collection at source on sale of scrap requires the seller to collect tax at source at 2% under section 394(1), Table serial number 4. No monetary threshold applies. A resident buyer may furnish a declaration under section 394(2) as the stated exception. The provision carries forward the earlier tax collection at source framework for scrap without substantive change.

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