Understanding TDS Rules for Scrap Dealers Under GST

Blog read time : 2 mins

October 2024-la, GSTN oru important advisory release pannanga. Intha advisory specific-a scrap dealers-oda TDS (Tax Deducted at Source) pathina obligations.

🛠️ New Rule Details:

• Scrap dealers dealing in metal materials (iron, steel, aluminum, etc.) under Chapters 72-81 of the Customs Tariff Act must deduct TDS.
• TDS Rate: 2% on transactions above ₹2.5 lakhs.
• Effective Date: From October 10, 2024, Section 51 of the CGST Act-la TDS deduction mandatory.

🚩 Problem Faced by Scrap Dealers:
Many scrap dealers October-la registration-ku apply pannina, but approvals vandhathu November-la. This delay nala October TDS filing panna mudiyala.

✅ Solution Given by GSTN:

• October 10 to November 30 varaikum deduct pannina TDS amount November GSTR-7 return-la consolidate pannitu file pannalam.
• This process smooth-a compliance ensure pannum, discrepancies avoid pannalam.

💡 Why It Matters:

• Proper TDS compliance tax evasion reduce pannum.
• Filing rules-a correct-a follow pannina penalties avoid panna mudiyum, good standing maintain pannalam.

📞 Need Help?
Scrap dealers, edhavadhu doubt irundha, GSTN helpdesk-a contact pannalam for further guidance.

WishTree Consultants-oda expert team unga filings easy-a handle panniduvanga! Contact us now!!