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

 

 

  1. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. GST for Exams
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .