Section 58 of CGST Act 2017: Utilisation of Consumer Welfare Fund

Provisions under Section 58 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Utilisation of Consumer Welfare Fund”, are as under:

Section 58 of CGST Act 2017: Utilisation of Consumer Welfare Fund (CHAPTER XI – REFUNDS)

(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.

Amendments History:

1. CBEC notifies 1st July 2017 as the Commencement date for Section 58 of the CGST Act 2017, vide Notification 9/2017 Central Tax.

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Govt. has notified the CGST Act, 2017 on 12th April, 2017, which has subsequently been amended through the CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance (No. 2) Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020. Further, CBEC/ CBIC has also issued various Notifications from time to time, relating to the commencement date of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required.

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