Induction furnace body seeks govt protection against rising GST notices

Induction furnace body seeks govt protection against rising GST notices. I think every Industry will need to raise this issue.

The country’s induction furnace owners, who generally process heavy steel scrap, have reached out to the Steel Ministry seeking protection against rising Goods and Services Tax ( GST) notices ,and urged the government for a resolution of linked tax issues.

The owners, through their body, All India Induction Furnaces Association (AIIFA), said scrap being sold at local levels often do not have the necessary GST framework requirements or compliances for which input tax credit claims become difficult.

On the other hand, due to non-availability of such detailing, larger players end up being penalised or face GST notices.