Chapter XI (Sections 54-58) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to Refunds. Section 57 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides for Consumer Welfare Fund (CWF) under CGST Act 2017.
Recently, we have discussed in detail section 56 (i.e. Interest on delayed refunds) of CGST Act 2017. Today, we learn the provisions of section 57 of the CGST Act 2017. Complete Details of CGST Section 57 – Consumer Welfare Fund. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.
Notes on Section 57 of CGST Act 2017
Section 57 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), dated 28.06.2017. In this note, you will learn detail of the provisions of section 57 of CGST Act 2017 read with Central GST Rules 2017.
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.