Gst on scrap iteams.
This query is : Resolved
Saksham Sachdeva
(Querist)
11 June 2017
What is the slab of GST finalised for Iron , Steel & other metal Scrap? (Earlier it was 5% VAT)
CA Rashmi Gandhi
(Expert)
11 June 2017
Now it is in 18% tax rate.
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Saksham Sachdeva
(Querist)
11 June 2017
18 % is for new Iron steel products. Is 18 % GST is also for IRON SCRAP (old iron & steel)?
CA Rashmi Gandhi
(Expert)
11 June 2017
Yes for all metal scrap rate is 18%
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Saksham Sachdeva
(Querist)
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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