Sir, we are regisreterd manufacturer and metal scrap is our raw materil , Is Reg 07 (TDS 2% on purchase of metal scrap) applicable for us ?? or it is applicable for only dealer like traders who sell the scrap further as it is ?? Thank you in advance
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Applicability of REG 07 and TDS on metal scrap
Replies (2)
This is applicable if the manufacturer's turnover exceeds ₹10 crores in the previous financial year.
1. If you are a registered person (manufacturer) under GST and have a valid GSTIN.
2. If the metal scrap is used as raw material for manufacturing goods.
3. If the value of the metal scrap purchased does not exceed ₹5 lakhs in a single transaction.
sir, thank you for reply, Some where 2.5lac of single bill/contract mentioned , Can you please reply is the value changed from 2.5 lac to 5.00 lac recently by govt ?? thank you
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