Section 58 Of Gst Utilisation Of Fund With Intro And Analysis

Section 58 of GST – Utilisation of Fund as per GST Act

(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. Related Provisions of the Statute

Analysis and Updates

Introduction The monies credited to the Consumer Welfare Fund are meant to provide financial assistance to promote and protect the welfare of the consumers and strengthen the consumer movement in the country. Analysis

(i) It should be ensured that the monies credited to the fund shall be utilized to provide assistance to protect the welfare of consumers as per the rules made by the Government (ii) The Government shall maintain proper and separate records in relation to the Fund in consultation with the Comptroller and Auditor-General of India

Comparative review These provisions are broadly similar to the erstwhile provisions contained in Section 12D of the Central Excise Act, 1944. Recommended Articles –

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