Classification of goods— The Present application has been filed by the applicant seeking a ruling in respect of determination of classification, valuation and GST rates applicable to the following goods:-
(a) Paintings (Bought from individual collectors).
(b) Old Cars.
(c) Jewellery (Old jewellery and Antique Jewellery of an age exceeding one hundred years).
(d) Watches (Old Watches and Antique Watches of an age exceeding one hundred years).
(e) Antique Books.
Held that— Paintings bought from individual art collectors will be classifiable under Heading 9701 and the applicant is liable to pay GST of 12% .
Old cars:—Motor Vehicles fall under Heading 8703 of the GST Tariff. All the items under 8703 will attract 28% GST except Tariff item 870310 10; Sub-heading 8703 80. However old cars will attract a lower rate of tax as per Notification No. 08/2018 CT (Rate) dated 25.01.2018. As per the said Notification, the lesser rate of tax i.e. 18 % is applicable to old cars provided the conditions mentioned therein are fulfilled.
Old Jewellery:- Articles of jewellery and parts thereof, of precious metal will fall under Heading 7113 of the GST Tariff attracting 3% GST.
Antique jewellery of age exceeding 100 years:- Antique jewellery of age exceeding 100 years will fall under Tariff item 9706 00 00 and will be liable to tax @ 12% GST.
Old watches:- Wrist watches, pocket-watches and other watches, including stopwatches, with case of precious metal or of metal clad with precious metal will fall under CH 9101 of the GST Tariff and Wrist watches, pocket-watches and other watches, including stop-watches, other than those of Heading 9101 will fall under Heading 9102 of the said Tariff. The rate of GST is 18% and the same will be applicable even to Old Watches.
Antique watches of age exceeding 100 years:- Antique watches of age exceeding 100 years will fall under Tariff item 9706 00 00 and will be liable to tax @ 12% GST.
Antique Books :- Antique books would fall under HSN 9706 of the GST Tariff and would attract GST @ 12%
The provisions of Rule 32(5) of CGST Rules will be applicable to applicant in respect of second hand goods i.e used goods which are purchased by them and then sold.