Provisions under Section 58 of the CGST Act 2017 relating to “Utilisation of Consumer Welfare Fund”:
Section 58: Utilisation of Consumer Welfare Fund (CHAPTER XI: REFUNDS) [*1]
(1) All sums credited to the Fund shall be utilised by the Government for the welfare of the consumers in such manner as may be prescribed.
(2) The Government or the authority specified by it shall maintain proper and separate account and other relevant records in relation to the Fund and prepare an annual statement of accounts in such form as may be prescribed in consultation with the Comptroller and Auditor-General of India.
Notes (History of Amendments in Bare Text):
1. CGST Section 58 introduced vide GOI Notification dated 12/04/2017, followed with CBEC Notification 9/2017 on commencement date of 01/07/2017.
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