New GST Provisions for Metal Scrap Transactions: Key Updates as of October 2024
In a significant move to enhance tax compliance within the metal scrap industry, the Goods and Services Tax Network (GSTN) has issued an advisory dated October 14, 2024, highlighting new GST provisions specifically for metal scrap transactions. These changes are part of the latest amendments introduced through Notification 25/2024 – Central Tax. Below, we’ll explain the key aspects of this notification and how they impact businesses dealing with metal scrap.
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