New GST Provision for Metal Scrap Transactions

New GST Provision for Metal Scrap Transactions

Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions

The government has issued Notification 25/2024-Central Tax, on October 9, 2024.under GST Section 51 of the CGST Act, 2017 mandating compliance by the businesses dealing with Metal Scrap. The GST portal will soon be updated to enable compliance of registration through FORM GST REG-07 by these category of registered persons.

Source

Relevant Update: Recommendations during 54th meeting of the GST Council

Also Check: Penalty for failure to register certain machines under section 122A.

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