𝗚𝗢𝗩𝗘𝗥𝗡𝗠𝗘𝗡𝗧 𝗢𝗙 𝗜𝗡𝗗𝗜𝗔 𝗔𝗺𝗲𝗻𝗱𝘀 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗠𝗲𝘁𝗮𝗹 𝗦𝗰𝗿𝗮𝗽 𝗦𝘂𝗽𝗽𝗹𝗶𝗲𝗿𝘀 📢 𝗡𝗲𝘄 𝗧𝗮𝘅 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝗱: Metal scrap suppliers under Chapters 72 to 81 of the Customs Tariff Act, 1975, will no longer benefit from the GST exemption starting October 10, 2024.

🔍 𝗞𝗲𝘆 𝗗𝗲𝘁𝗮𝗶𝗹𝘀: •𝗜𝘀𝘀𝘂𝗲𝗱 𝗯𝘆: Ministry of Finance, Department of Revenue •𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼. 24/2024-Central Tax (Amending Notification No. 5/2017) •𝗦𝗰𝗼𝗽𝗲: Revokes the GST registration exemption for metal scrap suppliers.

⚖ 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁: A new proviso has been added to the 2017 notification, stating that businesses involved in supplying metal scrap will be required to register under the CGST Act. This marks the end of any previous exemptions granted under the original notification.

📜 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: •𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼: 24/2024-Central Tax •𝗘𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗗𝗮𝘁𝗲: 10 October 2024 •𝗥𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗖𝗵𝗮𝗽𝘁𝗲𝗿𝘀: 72 to 81 of the Customs Tariff Act, 1975.

This update ensures that all suppliers of metal scrap are now subject to GST regulations, closing the exemption loophole that previously existed for them. Regards Raja Abhisek