Page 188 - GSTL_16th July 2020_Vol. 38_Part 3

426 GST LAW TIMES [ Vol. 38
Ref. No. of Description Remarks
the table of goods
given at
point no. 10
2. Old cars Appellant accepts ruling of AAR on this point in
toto i.e. HSN Code, Classification, Applicable Tax
Rate, Valuation and Applicability of Notification
No. 8/2018-C.T. (R), dated 25-1-2018
3. Old Jewellery Appellant accepts ruling of AAR on this point in
toto i.e. HSN Code, Classification, Applicable Tax
Rate, and applicability of Rule 32(5) of the CGST
Rules.
5. Old Watches Appellant accepts ruling of AAR on this point in
toto i.e. HSN Code, Classification, Applicable Tax
Rate, and applicability of Rule 32(5) of the CGST
Rules.

13. Appellant further partially accepts the verdict of Hon’ble AAR on
following goods :

Ref. No. of Description Remarks
the table of goods
given at
point no. 10
1. Paintings Appellant accepts ruling of AAR on this point as to
bought from HSN Code, Classification, Applicable Tax Rate.
individual art However, Appellant respectfully disagrees with
collectors AAR ruling that Rule 32(5) is not applicable and
Appellant is obliged to pay tax at 12% of sale value
of such paintings.
Appellant wish to contest that Rule 32(5) of CGST
Rules, 2017 is applicable to sale of such paintings
and Appellant is liable to discharge tax on differ-
ence between the sales price and purchase price.
4 and 6 Antique Appellant accepts ruling of AAR on this point as to
Watches and HSN Code, Classification, Applicable Tax Rate.
Antique However, Appellant respectfully disagrees with
Jewellery AAR ruling that Rule 32(5) is not applicable and
purchase Appellant is obliged to pay tax at 12% of sale value
from of such goods.
individual Appellant wish to contest that Rule 32(5) of CGST
collectors and Rules, 2017 is applicable to sale of such goods and
users Appellant is liable to discharge tax on difference
between the sales price and purchase price.

GST LAW TIMES  16th July 2020  188