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of <h1>Telangana GST Act 2017: Understanding Supply of Goods vs. Services, Key Classifications, and Business Asset Transfers</h1> Under the Telangana Goods and Services Tax Act, 2017, certain activities are classified as either supply of goods or services. Transfer of title in goods is considered a supply of goods, while transfer of rights without title is a supply of services. Leasing land or buildings is a supply of services. Any treatment or process applied to another's goods is also a service. Business asset transfers can be goods or services based on usage. Renting property, construction, and intellectual property rights are services. Composite supplies like works contracts are services, while goods supplied by associations to members are treated as goods.
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