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GST to be paid on difference between selling price & purchase price in respect of auction of old goods

June 17, 2019[2019] 106 taxmann.com 188 (AAR - MAHARASHTRA)
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CGST : Where applicant-auctioneer only deals with second hand or used goods and auctions those second hand or used goods which have been bought by them and thus, they are trading in such goods and auction is just a medium to sell goods, since rule 32(5), which specifically deals with value of taxable supply when same is provided by a person dealing in used/second hand goods, clearly states that in subject case value for tax purposes will be difference between selling price and purchase price, liability will be discharged by applicant on difference between selling price and purchase price as stipulated in rule 32(5) of CGST Rules, 2017 only in respect of old cars, old jewellery and old watches

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