Section 2(75) of CGST Act: Meaning of “Money”

Definition of the term “Money” under the Central Goods and Services Tax (CGST) Act, 2017

As per Section 2(75) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term “money” means the Indian legal tender or any foreign currency, cheque, promissory note, bill of exchange, letter of credit, draft, pay order, traveller cheque, money order, postal or electronic remittance or any other instrument recognised by the Reserve Bank of India when used as a consideration to settle an obligation or exchange with Indian legal tender of another denomination but shall not include any currency that is held for its numismatic value.

Central Goods and Services Tax (CGST) Act, 2017 (Chapter-wise/ Section-wise)

Section 2 of CGST Act, 2017: Definitions

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