AAR : Rules on taxability of auctioned goods and personal effects

Jun 17,2019

Maharashtra AAR holds that applicant, an auctioneer, shall discharge GST on difference between selling price and purchase price in respect of second-hand goods i.e. old cars, jewellery and watches in terms of Rule 32(5) of CGST Rules, 2017; Explains that old cars will be classified under Heading 8703 and attract a lower rate of 18% GST as per Notification No. 8/2018-Central Tax (Rate) dated January 25, 2018, subject to satisfaction of stipulated conditions; However, states th...


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