GST Council Proposes 2% TDS on Scrap Metal Transactions

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The Goods and Services Tax Council has proposed a new 2% tax deducted at source on scrap metal transactions. This measure was announced following the 53rd GST Council meeting chaired by Finance Minister Nirmala Sitharaman. The TDS is intended to enhance tax compliance and traceability within the scrap trading sector. The proposal will be implemented after due parliamentary process.

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