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Section 2(52) of the CGST Act, 2017 defines goods. Which of the following does the definition expressly exclude?

Question and options

Section 2(52) of the CGST Act, 2017 defines goods. Which of the following does the definition expressly exclude?

  1. Growing crops agreed to be severed before supply

  2. Money and securities

  3. Things attached to the earth agreed to be severed before supply

  4. Actionable claims

Answer and explanation

Correct answer: B - Money and securities

Section 2(52) of the CGST Act, 2017 defines goods as every kind of movable property other than money and securities. The same clause expressly includes actionable claims, growing crops, grass and things attached to or forming part of the land that are agreed to be severed before supply or under a contract of supply. Most actionable claims are kept out of tax by Schedule III, not by the definition of goods.

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