CBIC Notifies RCM applicability on Metal Scrap:

CBIC Notifies RCM applicability on Metal Scrap The Central Board of Indirect Taxes and Customs (CBIC) has notified Reverse Charge Mechanism (RCM) applicability on Metal Scrap via issuing a Notification. The Notification Read as Follows: In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 4/2017- Central Tax (Rate), published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 676(E), dated the 28th June, 2017. In the said notification, in the Table, after S. No. 7 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: - This notification shall come into force on the 10th day of October 2024. For Official Notification Download PDF Given Below: