Goods Definition changed under Revised Draft Model GST Law
Section 2(49) of the revised draft model and Section 2(48) of Old Model GST Law
| Key Point | Draft Model GST Law June 2016 | Revised Draft Model Nov 2016 |
| Goods | “goods’’ means every kind of movable property other than actionable claim and money but includes securities, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under the contract of supply;
Explanation.– For the purpose of this clause, the term ‘moveable property’ shall not include any intangible property. [Section 2(48)] | “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; [Section 2(49)] |
[Editor Note : New The Draft Model GST Law, Draft IGST Law and Draft Compensation Law which would be considered by the GST Council for approval are placed in the public domain for information of trade, industry and other stake holders. on 25.11.2016 :-
Earlier, the Draft Model GST Law was put in public domain in the month of June, 2016 for comments Download: Old Draft Model GST Law -june 2016 ]
Taxable person- Section 10 of New Draft Model GST Law
GST compliance rating- Section 138 of New Draft Model GST Law
Anti-profiteering Measure – Section 163 of New Draft Model GST Law
Schedule V of New Draft Model GST Law -Person Liable to be Registered