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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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GST: Where applicant only deals with and auctions second hand or used goods which have been bought by it, in respect of old cars, old jewellery and old watches, GST liability will be discharged by applicant on difference between selling price and purchasing price

GST: Painting bought from individual art collectors classifiable under Heading No. 9701 and liable to GST at rate of 12 per cent on sale value

GST: As per Notification No. 8/2018-Central Tax (Rate), dated 25-1-2018, lesser rate of tax, i.e., 18 per cent is applicable to old cars provided conditions mentioned therein are satisfied

GST: Old jewellery classifiable under Heading No. 7113

GST: Antique jewellery of age exceeding 100 years classifiable under Heading No. 9706 and liable to GST at rate of 12 per cent

GST: Old watches classifiable under Heading No. 9102 and taxable at rate of 18 per cent

GST: Antique watches of age exceeding 100 years classifiable under Heading No. 9706 and liable to GST at rate of 12 per cent

GST: Antique books exceeding 100 years of age classifiable under Heading No. 9706 and liable to GST at rate of 12 per cent

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