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Section 58 - Central Goods and Services Tax Act, 2017
The Central Goods and Services Tax Act, 2017
58. Utilisation of Fund.-
(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 Sections
- Section 22: Persons liable for registration
- Section 17: Apportionment of credit and blocked credits
- Section 41: Claim of input tax credit and provisional acceptance thereof
- Section 114: Financial and administrative powers of President
- Section 73: Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful-misstatement or suppression of facts
Related Acts
* Only for reference.