GST Update for Metal Scrap Buyers: New Registration Rules
On October 22, 2024, the Goods and Services Tax Network (GSTN) issued an advisory regarding updates to the registration process for buyers of metal scrap through form GST REG-07. This update follows new GST provisions detailed in a previous advisory released on October 13. Taxpayers purchasing metal scrap must now select “Others” in Part B of Table 2 under the “Constitution of Business” section. A mandatory text box will prompt them to enter “Metal Scrap Dealers.” After this entry, taxpayers must complete and submit the remaining details in form GST REG-07 on the common portal to comply with Notification No. 25/2024 – Central Tax, dated October 9, 2024. This change aims to streamline registration compliance for metal scrap buyers, ensuring adherence to updated GST regulations. Further details can be accessed via the provided link.
Goods and Services TaxGovernment of India, States and Union Territories
Advisory – Reg 07
Oct 22nd, 2024
Dear Taxpayer,
GSTN has introduced an update to facilitate the registration compliance for buyers of metal scrap through form GST REG-07. This update follows the new GST provisions for metal scrap buyers as outlined in the advisory issued on October 13.
Taxpayers in this category are required to select “Others” in Part B of Table 2 under the “Constitution of Business” section. A text box will appear where the taxpayer must enter “Metal Scrap Dealers.” This entry is mandatory for those selecting the “Others” option. Once this is completed, the remaining details in form GST REG-07 should be filled and submitted on the common portal to meet the registration requirements as per Notification No. 25/2024 – Central Tax, dated October 9, 2024.
Please click here for more details.
Thanking You,Team GSTN
