Gst on scrap iteams.

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Saksham Sachdeva

Saksham Sachdeva (Querist)
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11 June 2017 What is the slab of GST finalised for Iron , Steel & other metal Scrap? (Earlier it was 5% VAT)

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 June 2017 Now it is in 18% tax rate.

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Saksham Sachdeva

Saksham Sachdeva (Querist)
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11 June 2017 18 % is for new Iron steel products. Is 18 % GST is also for IRON SCRAP (old iron & steel)?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 June 2017 Yes for all metal scrap rate is 18%

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Saksham Sachdeva

Saksham Sachdeva (Querist)
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11 June 2017 So how is news agencies declaring that Steel industry will be benified from GST. As for a Metal Scrap trader the new tax rate is more the 3 times the VAT i.e. from 5% to 18%? Only for manufacturers it counts to 19.5% not for a Scrap trader?

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