GST Council Introduces Reverse Charge Mechanism On Metal Scrap

The new introduction could have a potential negative impact on metal scrap recyclers like Gravita India and Pondy Oxide & Chemicals, who buy metal scrap for their business.

It could also negatively impact steel mills like Tata Steel and JST Steel who heavily rely on metal scrap for raw material.

Smaller sellers of metal scrap, on the other hand, may benefit from not having to deal with GST registration and compliance.