Provisions under Section 17A of the Integrated Goods and Services Tax (IGST) Act, 2017 relating to “Transfer of Certain Amounts”, are as under:
Section 17A of IGST Act 2017: Transfer of Certain Amount (CHAPTER VIII APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS)
Where any amount has been transferred from the electronic cash ledger under this Act to the electronic cash ledger under the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act, the Government shall transfer to the State tax account or the Union territory tax account, an amount equal to the amount transferred from the electronic cash ledger, in such manner and within such time, as may be prescribed.
1. Section (17A) inserted vide Finance (No. 2) Act 2019. However, appointed date for this amendment is yet to be notified by the CBIC/ Govt.
Govt. has notified the Integrated Goods and Services Tax (IGST) Act, 2017 on 12 April, 2017 followed with various CBIC Notifications on commencement date for various Sections/ Provisions thereof from time to time. Govt. has further notified the Integrated Goods and Services Tax (IGST) (Amendment) Act, 2018 on 30 Aug. 2018 followed with CBIC Notification on commencement date of various Sections/ Provisions thereof from 1 Feb. 2019 vide Notification No. 1/2019 Integrated Tax dt. 29 Jan. 2019 except for amendments where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the IGST Amendment Act, 2018 itself.
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