Sect 58 of CGST Act, 2017 Utilisation of Fund
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The below post explains about Utilisation of Fund under section 58 of CGST Act,2017.
Section 58 of CGST Act, 2017 explains Utilisation of Fund as below: (The amendments if any will also be updated here soon).
The extract of Section 58 of CGST Act,2017 quoted below:
58 Utilisation of Fund.
58. (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.
The above information clarifies about Utilisation of Fund under section 58 of CGST Act,2017.
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