Check sibling questions

GST is charged on

Goods

or 

Services

 

 

DEFINITION OF GOODS DEFINITION OF SERVICES

Goods means

every kind of movable property

 

It also includes

  • actionable claim
  • growing crops, grass and things attached to/forming part of the land which are agreed to be severed (cut)

 

It   excludes

money and securities

 

 

Services means

every thing except goods

 

It also includes

  • Use of money
  • Conversion of money by cash/by any other mode, from one form/ currency/ denomination, to another, for which a separate consideration is charged 

It also excludes

money and securities

 

 

Davneet Singh's photo - Teacher, Engineer, Marketer

Made by

Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.