Section Meaning of Money as per CGST Act i.e Section 2(75) of CGST Act

Financial Year: 2017

 

Section 2(75)

Definition of Money

 

 

“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;

 

Thanks

CA Rahul Gupta