Goods – Sec 2(52)
- “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;
- The definition is inspired from Sales of Goods Act, 1930 with two major variations i.e. actionable claims are included and securities have been excluded.
- Actionable claims, other than lottery, betting and gambling will not be treated as supply of goods or services by virtue of Schedule III;
- Intangibles like DEPB license, copyright and carbon credit would continue to be covered under ‘goods’.