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
$1. Explanation inserted vide CGST (Amendment) Act, 2018, however commencement date is yet to be notified.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.