New Delhi, Oct 7 :The Goods and Services Tax (GST) Council at its meeting on Saturday, is expected to take up the issue of GST on steel scrap among the items on its likely agenda which include exemption of tax on millets in powdered form and the tax on bank and corporate guarantees provided by holding companies to their subsidiary firms.

The metal industry has been seeking that 18 per cent GST levied on steel scrap should be shifted to a reverse charge mechanism (RCM) basis where the recipient of the goods or services is liable to pay GST instead of the supplier.

For instance, in the case of supply of raw cotton by farmers to cooperatives is taxable under the reverse charge mechanism.