Creation of Consumer Welfare Fund under GST
1. There shall be established by the Central or a State Government a fund, to be called the Consumer Welfare Fund.
2. There shall be credited to the Fund, in such manner as may be prescribed, -
(a) The amount of tax which is not paid to the applicant directly, is credited in this fund; and
(b) Any income earned from investment of the amount credited to the Fund and any other monies received by the Central or a State Government for the purposes of this Fund.
Utilisation of Consumer Welfare Fund under GST
1. Any money credited to the Fund shall be utilised by the Central/State Government for the welfare of the consumers in accordance with such rules as that Government may make in this behalf.
2. The Central/State Government shall maintain or, if it thinks fit, specify the authority which shall maintain, proper and separate account and other relevant records in relation to the Fund in such form as may be prescribed in consultation with the Comptroller and Auditor-General of India.
Conclusion
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