AIBE XV — January 2021 — Q.84 (Central Goods and Services Tax Act, 2017)

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Q.84

Taxation Law Medium Knowledge-Based

Bare Act Central Goods and Services Tax Act, 2017 · Section 2(75)

The definition of ‘money’ under GST law does not include:

A Letter of Credit

✓ Currency held for numismatic value Answer

C Pay Order

D Traveller cheque

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Explanation & Strategy

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The definition of 'money' under GST law includes currency, cheques, promissory notes, bills of exchange, letters of credit, drafts, and digital payment instruments. However, it does NOT include certain items — the question tests which specific exclusion applies.

At a Glance

Subject Taxation Law

Difficulty Medium

Act Central Goods and Services Tax Act, 2017

Section Section 2(75)

Answer (B) Knowledge-Based

Paper AIBE XV — January 2021

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