Insertion of new section 53A.
101. After section 53 of the Central Goods and Services Tax Act, the following section shall be inserted, namely:––
Transfer of certain amounts.
“53A. Where any amount has been transferred from the electronic cash ledger under this Act to the electronic cash ledger under the State Goods and Services Tax Act or the Union territory Goods and Services Tax Act, the Government shall, transfer to the State tax account or the Union territory tax account, an amount equal to the amount transferred from the electronic cash ledger, in such manner and within such time as may be prescribed.”.
Notes on Clauses:
Clause 101 of the Bill seeks to insert a new section 53A in the Central Goods and Services Tax Act so as to provide for transfer of amount in the electronic cash ledger between the Centre and States as a consequence of the new facility given to the tax payer under section 49.
