Tag: India: FinMin announces Reverse Charge Mechanism on metal scrap at GST Council meet

The Union Finance Minister, Ms Nirmala Sitharaman, speaking at the 54th GST Council meeting on 9 September 2024, announced the implementation of the Reverse Charge Mechanism (RCM) for metal scrap transactions. “On metal scrap, reverse charge mechanism on supply of metal scrap from unregistered persons to registered persons, provided that the supplier shall take registration…