GST Portal Update: GSTN to Soon Enable Registration Facility for TDS u/s 51 of GST Act for Scrap Dealers

The Goods and Services Tax Network (GSTN) announced that it will soon enable the registration facility for Tax Deduction at Source (TDS) under Section 51 of the GST Act for scrap dealers. This update follows the 54th GST Council meeting held on September 9, 2024, which recommended a 2% TDS on the supply of metal scrap in business-to-business (B2B) transactions involving registered persons. The GST portal will be updated to facilitate compliance with this requirement through FORM GST REG-07. This move aims to streamline the registration process for scrap dealers and ensure proper tax compliance in the scrap metal industry.