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“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;
Express exclusion of goods implies its inclusion within the definition of services. Therefore, understanding the exact scope and boundaries of the definition of goods is required to recognize all those transactions or activities that would fall under the meaning of ‘services’, on being left out of the definition of ‘goods’. Transactions in money (other than its conversion) are excluded both from the definition of goods and from the definition of services.
The following aspects need to be noted:
• The word “anything” could be read as “everything”, i.e., services means everything that is not goods, and is not specifically excluded (such as money, securities, transactions specified in Schedule III, etc.)
• Schedule II of the CGST Act lists down matters which shall be regarded as a supply of goods, or supply of services.
• The GST law empowers the Government to require treatment of supply of notified goods as supply of services, and vice versa.
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