Applying/remove labels from a commit

Is it possible to apply or remove an issue label from a commit when an issue is referenced in the commit. I see that I can run actions on a [push] but I’m getting lost when actually trying to parse the commit message and apply/remove labels on the issue referenced.

Let’s say I have issue #1 with a label of ‘waiting for commit’. a commit gets pushed with a message of ‘#1 blah blah’. Is it possible to remove the label ‘waiting for commit’ and apply ‘waiting for review’ on issue #1?