The Goods and Service Tax Network (GSTN) on October 22, 2024, issued a notification regarding the Advisory Reg 07.
GSTN has introduced an update to streamline the registration process for buyers of metal scrap through Form GST REG-07. This update aligns with the new GST rules for metal scrap buyers, as detailed in the advisory dated October 13. Taxpayers falling under this category must choose "Others" in Part B of Table 2 under the "Constitution of Business" section. A mandatory text box will then appear, requiring the entry "Metal Scrap Dealers." After completing this step, taxpayers should proceed with filling out the remaining sections of Form GST REG-07 and submit it on the portal to comply with the registration requirements under Notification No. 25/2024 - Central Tax, dated October 9, 2024.
