Section 2(102) of CGST Act: Meaning of “Services”
As per Section 2(102) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term “services” has been defined, as under:
Section 2(102) of CGST Act: Definition of “Services” (CHAPTER I – PRELIMINARY)
“services” means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged.
Explanation.– For the removal of doubts, it is hereby clarified that the expression “services” includes facilitating or arranging transactions in securities.
1. Explanation inserted vide CGST (Amendment) Act, 2018.
Govt. has notified the Central Goods and Services Tax (CGST) Act, 2017 on 12 April, 2017 followed with various CBIC Notifications on commencement date for various Sections/ Provisions thereof from time to time. Govt. has further notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018 followed with CBIC Notification on commencement date of various Sections/ Provisions thereof from 1 Feb. 2019 vide Notification No. 2/2019 Central Tax dt. 29 Jan. 2019 except for amendments where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the CGST Amendment Act, 2018 itself.
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