Section 57 of CGST Act 2017: Consumer Welfare Fund
Provisions under Section 57 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Consumer Welfare Fund”, are as under:
Section 57 of CGST Act 2017: Consumer Welfare Fund (CHAPTER XI – REFUNDS)
The Government shall constitute a Fund, to be called the Consumer Welfare Fund and there shall be credited to the Fund,—
(a) the amount referred to in sub-section (5) of section 54;
(b) any income from investment of the amount credited to the Fund; and
(c) such other monies received by it,
in such manner as may be prescribed.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.