GST Notification 25/2024-Central Tax dt. 08-October-2024
GST Notification – 25/2024:
Notification No. 25/2024-Central Tax was issued by the Central Government on October 9, 2024, as part of amendments to the existing provisions under the Central Goods and Services Tax Act, 2017. This notification introduces changes to the earlier Notification No. 50/2018-Central Tax. Specifically, it now includes a new clause addressing registered persons who receive supplies of metal scrap classified under Chapters 72 to 81 of the Customs Tariff Act, 1975. This amendment signifies the inclusion of these transactions in the scope of GST compliance.
Furthermore, the notification revises the third proviso related to the applicability of the earlier notification. It clarifies that the provisions will not apply to the supply of goods or services between specified persons as outlined in section 51 of the Act, with the exception of those
mentioned in the new clause concerning metal scrap. This notification will take effect from October 10, 2024, thereby impacting the compliance landscape for businesses involved in the supply of metal scrap within the specified chapters.
