Draft revised Model GST law excluded “Securities” from the definition of goods. Earlier it was a matter of contention whether dealing in securities would attract GST. Now it get clear that dealing in Securities will not come in the ambit of GST.

Moreover revised MGL also outlines the concept of “mixed” and ‘Composite” goods which was not there in the earlier draft.

“Mixed” goods mean a seller may give different goods to a buyer, without a dominant price.

For instance, one may go to a restaurant and order a “thali”, comprising rice, roti, vegetables, pulses and a sweet dish. Some of these, such as rice, may be exempt from GST, but others such as the sweet dish may attract a rate, say 12 per cent. In such a case, the “thali” would attract the highest rate, that is, 12 per cent.

Another concept is “composite” of goods, where one dominant good is sold.

For instance, one may go to a mall and purchase a mobile handset. Along with it, the seller may give the buyer a bag for it. The bag might be exempt from GST but the mobile handset might attract 18-per cent tax. In this case, the rate applicable for the dominant good, that is the mobile handset, would apply.

In earlier drafts, intangibles were taken as services, but in the new drafts, this provision has been removed.