Notification No.: 24/2024-Central Tax
Date: 9th October 2024
Relevant Act / Rule: Goods and Service Tax Act, 2017
‘- The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 5/2017-Central Tax regarding the exemption for individuals making taxable supplies, where the total tax is payable on a reverse charge basis are not required to obtain registration under GST.
– As per the amendment, the person engaged in supply of Metal Scrap, falling under chapters 72 to 81 in the first schedule to the Customs Tariff Act, 1975 are no longer exempted from that provision.
– Hence supplier of Metal Scrap have to obtain registration under GST.
Effective Date: This amendment will take effect on October 10, 2024.
Notification link: https://taxinformation.cbic.gov.in/view-pdf/1010189/ENG/Notifications
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