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 01/07/2017 as the Commencement date for Section 58 of the CGST Act 2017, vide Central Tax Notification 9/2017 dt. 28/06/2017.

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Note: The CGST Act 2017 has been notified vide GOI Notification dt. 12/04/2017, which has subsequently been amended through CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020, Finance Act 2021, Finance Act 2022 including various Notifications issued by the Govt./ CBIC from time to time, relating to the commencement dates of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required. Information on this page is a Section-wise compilation of Amendments made by all such Notifications, with best possible efforts for accuracy. In any case, E&OE. For official/ updated information, please visit CBIC website.