GST Acts and Rules
CGST Act - Central Goods and Services Tax Act

Section 58 CGST - Utilisation of Fund

Last updated at April 16, 2024 by

According to Section 58 of Central Goods and Service Tax Act, 2017 as passed by Lok Sabha :

  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.
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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.