Tax collection on timber and forest produce requires seller collection, without a monetary threshold, subject to declaration-based exception. Tax collection at source at 2% applies to sale of timber obtained under a forest lease or otherwise, and forest produce other than timber and tendu leaves ... Summary
Tax collection on timber and forest produce requires seller collection, without a monetary threshold, subject to declaration-based exception.
Tax collection at source at 2% applies to sale of timber obtained under a forest lease or otherwise, and forest produce other than timber and tendu leaves obtained under a forest lease. The seller is responsible for collection. No monetary threshold applies, while a declaration-based exception is available under Section 394(2). The framework substantially continues the corresponding earlier tax collection provisions without substantive modification.
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