Scrap business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2018 Is there a need for any special registration for scrap business? ie; purchasing scrap from various local scrap collectors and others, and transporting and selling to various companies as their raw materials etc. (specially for steel manufacturing companies).

what are the conditions to be fulfilled? apart from a Normal Partnership Firm Formation and GST Registration.

what are the conditions and rates of GST for said scrap business?

Please do guide and provide expert opinion regarding this

Thanks in advance.

Arpit

Arpit (Expert)
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03 February 2018 As such there is no requirement of any specific registration for doing steel scrap related business. You can take the GST registration and based on the HSN code the rates of GST will be decided. Ferrous Waste and Scrap comes under the tariff heading 7204 and rate of GST will be 18%.