CBIC notifies Introduction of GST under RCM on Supply of Metal Scrap by Unregistered to Registered Person [Read Notification]

New Notification Shifts GST Liability to Buyers, Aims to Enhance Compliance in the Metal Scrap Industry Starting October 10, 2024
CBIC - Introduction - GST - RCM - Supply of Metal Scrap - Unregistered - Registered Person - TAXSCAN

The Department of Revenue, Ministry of Finance, through a recent Notification mandates the introduction of the Reverse Charge Mechanism (RCM) on the supply of metal scrap by unregistered dealers to registered dealers. The move was anticipated subsequent to the proposals following the 54th GST Council meeting held on 9 September 2024 in New Delhi. Under…

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