Report
GST Council proposes 2% tax deducted at source on specified waste and scrap deals
The Economic Times reports the proposal covers plastic waste, discarded tyres, electrical and electronic scrap, and used cooking oil.
TLDR
The Economic Times reports the GST Council proposed a 2% tax deducted at source (TDS) on specified waste and scrap transactions between registered businesses. Under the proposal, registered buyers would deduct TDS when purchasing from registered suppliers and pay GST under a reverse charge mechanism when purchasing from unregistered sellers, even if those sellers fall below the GST registration threshold.
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