GST TDS on Metal Scrap | Notification no 25/2024 | GST | TDS | New changes in GST from 10 October,24

Are you dealing with metal scrap transactions or wondering about the changes introduced by Notification No. 25/2024 under GST?

This video provides a step-by-step breakdown of the TDS provisions, compliance requirements, and benefitsofy this important update. Issued on 10th October 2024, this notification has significantly amended the GST compliance process under Section 51 of the CGST Act.


What is Notification No. 25/2024?
Notification No. 25/2024 impacts businesses dealing in metal scrap as defined under Chapters 72 to 81 of the Customs Tariff Act (e.g., iron, steel, aluminum, lead, zinc, etc.).

TDS at 2% is now mandatory for transactions exceeding ₹2,50,000.
Buyers must deduct TDS for eligible transactions and file GSTR-7 monthly.


Key Highlights
TDS Deduction Rules:

Intra-State Supply: Deduct 1% CGST + 1% SGST.
Inter-State Supply: Deduct 2% IGST.
Not applicable to imported metal scrap transactions.
GST TDS Registration:

Buyers must obtain a separate GST TDS Registration using Form REG-07.
Required documents: PAN, business proof, bank details, and authorization letter for companies.

Supplier Benefits:

TDS credit is reflected in the supplier's cash ledger every month.
Suppliers can use this credit to offset GST liabilities or claim refunds.
Monthly Compliance:

File GSTR-7: Buyers must report TDS details monthly by the 10th of the following month.
GSTR-7A Certificate: A TDS certificate is auto-generated for the supplier after filing.



In this video, we'll delve deep into the following aspects of this crucial notification:

What is GST Notification 25/2024?
Who is affected by this notification?
When does the TDS requirement come into effect?
How much TDS needs to be deducted?
How to comply with the new TDS rules?
What are the potential challenges and solutions?
GST Notification 25/2024 का क्या मतलब है?
कौन लोग इस notification से प्रभावित होंगे?
कब से TDS काटना शुरू करना होगा?
कितना TDS काटना होगा?
नए TDS नियमों का पालन कैसे करें?
क्या-क्या चुनौतियां हो सकती हैं और उनका समाधान क्या है?
GST Notification 25/2024: A Complete Guide in Hindi
GST Notification 25/2024: A Step-by-Step Explanation
GST Notification 25/2024: Impact on Metal Scrap Industry
GST Notification 25/2024: FAQs
GST Notification 25/2024: Latest Updates
GST Notification 25/2024: Expert Analysis
GST Notification 25/2024: Tax Tips and Tricks
GST Notification 25/2024: How to File GSTR-7
GST Notification 25/2024: TDS on Metal Scrap Calculation
GST Notification 25/2024: TDS on Metal Scrap Certificate
GST Notification 25/2024: Impact on Small Businesses
GST Notification 25/2024: Impact on Large Businesses
GST Notification 25/2024: Compliance Checklist
GST Notification 25/2024: Penalties for Non-Compliance
GST Notification 25/2024: Latest News and Updates
GST Notification 25/2024: Expert Opinions
GST Notification 25/2024: Case Studies
GST Notification 25/2024: Real-World Examples
GST Notification 25/2024: Practical Tips and Strategies
GST Notification 25/2024: How to Avoid Mistakes
GST Notification 25/2024: Best Practices
GST Notification 25/2024: Common Questions Answered
GST Notification 25/2024: What You Need to Know
GST Notification 25/2024: What's New
GST Notification 25/2024: What's Changed
GST Notification 25/2024: What's Next

Notification 25/2024 ke changes kya hai?"
"GST me TDS kaise kaam karta hai?"
"Metal scrap par GST ke naye rules kya hai?"
"GSTR-7 kaise file karein?"

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