You may run into issues feeding from the magazine though, I know Israeli Mausers have a spacer in the magazine.
Honestly if your intent is to rebarrel it I would recommend selling the rifle and buying something like a Israeli (or Chilean, or Spanish etc.) Mauser already in 7.62. It will likely cost less when all is said and done and the rifle will be worth more that way.
They have a arsenal installed curved metal (steel) spacer welded in that also extends the feed ramp as well as shortening the mag box on the Chilean ones.
Yeah, just sell your m48 and buy one already set up for .308/7.62x51mm, it is a way better way to go and after spending $300 or more for a barrel and $150-$200 to remove and install and ream the chamber plus $50 more to modify the magazine to feed properly you will be no better off and your Yugo M48 will not be worth much more than what you originally paid for it.
Plus you are not ruining it as a military original rifle.
I have one of the non sportered, excellent Chilean M98 1912-61 Mausers that was military arsenal rebarrelled to 7.62x51mm nato by them in the 1960's on one of their 7x57mm Austrian Steyr built 1912 model Mauser that is exactly what you are looking for.
These excellent quality M98 short rifles have a brand new military installed 24" barrel in 7.62mm/308 with a arsenal shortened and reworked magazine to feed 7.62x51mm/.308 win.
They generally came straight from the Chilean military storage after rebuild to 7.62mm and I doubt many were used or shot by them when converted before they sold them on the surplus market as the bore and barrel finish on lots of them (including mine) look perfect and still new.
Austrian Steyr made 1912 model Mausers are fair superior to Yugo ones in quality of build, I would put them right up with pre-war made Oberndorf and DWM Mausers.
If you do not rebarrel your one I may be willing to let my one go as I have not shot it in years and it now just sits in my safe.
