Is gst applicable on scrap business?
This query is : Resolved
Srimannarayana
(Querist)
30 August 2017
Ours is a Scrap Business we purchase scrap from individuals like Plastic materials, Iron, Books, Newspapers, CD's, Aluminum, Copper, Home Appliance etc. and we collect scrap from corporate companies like CPU, Monitors,etc. Pubs, Bars also and we sell it. Do we need to register under GST. If yes what is the rate of GST on Scrap and what is the HSN code applicable please advice me. thanking you
30 August 2017
Yes.
GST is applicable if your turn over is above 20lakhs...
GST rate and HSN is based on the products...
So, You ll be see the rate schedule in CBEC website or CCI portal....
Vishakha Kejriwal.
(Expert)
31 August 2017
Plastic Scrap Chapter 3915; Paper scrap 4707;iron scrap 7204; Copper scrap 7404;Aluminium scrap 7602; Rate is 18% and all supplies liable to GST if aggregate turnover exceeds threshold limit,
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