Tax collection on scrap sales requires seller collection at the prescribed rate, without a monetary threshold.

Tax collection at source on sale of scrap requires the seller to collect TCS at 2%. Collection occurs at the earlier of debit of the buyer's account or receipt of payment, with no monetary threshold. A resident buyer may furnish a declaration under section 394(2) as the stated exception. The collection mechanism, seller's role, timing and nil threshold remain aligned with the former framework, while the TCS rate increases from 1% to 2%.

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