Section 57 of GST – Consumer Welfare Fund

Section 57 of GST – Consumer Welfare Fund. Check Details for GST Section 57 In this section you may find all details for Consumer Welfare Fund as per GST Act 2017Detailed Analysis of GST Section 57 of GST Act 2017. We Provide Complete Details for All GST Section’s and In this article you may find all details for GST Section 57. Check Section Wise Analysis of GST Act 2017, Chapter Wise Analysis of GST All Sections. in this article you may find complete details regarding Section 57 of GST Act 2017 – Consumer Welfare Fund, gst all sections and definitionsNow Check more details from below…..

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Section 57 of GST – Consumer Welfare Fund

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.

Analysis and Updates

Introduction

If the applicant is unable to prove that the incidence was not actually passed onto any other person then the refund amount is credited to the Consumer Welfare Fund.

The overall objective of the Consumer Welfare Fund is to provide financial assistance to promote and protect the welfare of the consumers and strengthen the consumer movement in the country.

Analysis

The following amounts will be credited to the Fund, in such manner as may be prescribed, –

  • the amount of refund referred to in sub-section (5) or sub-section (6) of section 54; and
  • any income earned from investment of the amount credited to the Fund and
  • such other monies received by it from the Government

Constitution of the Committee

Rule 97 of the CGST Rules provides that The Government shall constitute a Standing Committee with a Chairman, a Vice-Chairman, a Member Secretary and such other Members as it may deem fit and the Committee shall make recommendations for proper utilisation of the money credited to the Consumer Welfare Fund for welfare of the consumers. The Committee shall meet as and when necessary, but not less than once in three months.

Utilisation of funds by the Committee

Rule 97 of the CGST Rules also provides that Any utilisation of amount from the Consumer Welfare Fund under sub-section (1) of section 58 shall be made by debiting the Consumer Welfare Fund account and crediting the account to which the amount is transferred for utilisation.

Any agency or organisation engaged in consumer welfare activities for a period of three years registered under the provisions of the Companies Act, 2013 (18 of 2013) or under any other law for the time being in force, including village or Mandal or samite level co-operatives of consumers especially Women, Scheduled Castes and Scheduled Tribes, or any industry as defined in the Industrial Disputes Act, 1947 (14 of 1947) recommended by the Bureau of Indian Standards to be engaged for a period of five years in viable and useful research activity which has made, or is likely to make, significant contribution in formulation of standard mark of the products of mass consumption, the Central Government or the State Government may make an application for a grant from the Consumer Welfare Fund. provided that a consumer may make application for reimbursement of legal expenses incurred by him as a complainant in a consumer dispute, after its final adjudication.

All applications for grant from the Consumer Welfare Fund shall be made by the applicant Member Secretary, but the Committee shall not consider an application, unless it has been inquired into in material details and recommended for consideration accordingly, by the Member Secretary.

Comparative review

These provisions are broadly similar to the provisions contained in erstwhile Central Indirect Tax laws.

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