GST Glossary: Meaning of Services in GST

What is the meaning of services in GST?

Section 2 (102) of the CGST Act defines the services in GST

“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; (Inserted via CGST Amendment Act 2019)

Services exclude the goods, money, and securities but include the transaction facilitation in money and securities.

What is deemed as services in GST?

Schedule II of the CGST Act provides for the items deemed as services in GST.

• Renting of Goods
• Right to use the goods without the transfer of title
• Construction of a complex
• Development of web
• Services of supply of food articles except for the alcoholic liquor for human consumption.
• Agreeing to bear a consequence or bear a loss