Tag: TDS 2% on metal scrap trades
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India: CBIC notifies 2% TDS on metal scrap transactions
According to Notification No. 25/2024-Central Tax, issued on 9 October 2024, businesses engaged in business-to-business (B2B) transactions involving metal scrap are now required to deduct 2% Tax Deducted at Source (TDS) from registered suppliers. This rule is effective from 10 October 2024. For intra-state transactions, the TDS rate is divided equally between CGST (1%) and…