In easy language, it means money received for selling goods and services

However it also includes

Any payment made


Monetary value of any activity/forbearance

  1. It shall be given by recipient or any other person on behalf of recipient.
    However, it does not include any subsidy received by Central or State Government
  2. It also does not include any security deposit received
    However, if supplier applies such deposit for consideration, then such deposit shall be taken
  1. Taxation for CA, CS, CMA Exams May - June 2019
  2. GST for Exams

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.