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Activities listed in Schedule III are NEITHER supply of goods NOR supply of services. Which is NOT in Schedule III?
ALottery
BFuneral / burial services
CSale of land
DServices by an employee to employer in employment
Answer & Solution
Correct answer: A. Lottery
1. Schedule III lists 6+ items including employee services to employer, court services, MP/MLA functions, funeral, sale of land/building.
2. Lottery, betting and gambling are NOT in Schedule III — they are taxable supplies as 'actionable claims'.
3. Notification 1/2024-CT inserted 'specified actionable claims' as taxable into the levy.
_Source: ICAI BoS CA Final Paper 8, Ch 3 "Levy and Collection of Tax", §Sched III_
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