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.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. of India 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. Further, CBIC has separately notified the commencement date of provisions of various Sections of the CGST (Amendment) Act 2018 vide Notification No. 2/2019 Central Tax dt. 29 Jan. 2019, except for sections where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the CGST Amendment Act, 2018 itself.