Securities Not Liable to GST

Securities Not Liable to GST :
With no specific exclusion to “Securities” in the earlier version, there was a general
apprehension that securities will be liable to GST. Now, goods has been defined as under :
“Goods” means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part
of the land which are agreed to be severed before supply or under a contract of supply.
? Actionable Claim & Intangible Property will be considered as goods and not as service:
“Actionable claim” shall have the meaning assigned to it in section 3 of the Transfer of Property Act, 1882.“actionable claim” means a claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or pledge of movable property, or to any beneficial interest in movable property not in the possession, either actual or constructive, of the claimant,






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