Integrated Goods and Services tax
Insertion of new section 17A.
113. After section 17 of the Integrated Goods and Services Tax Act, 2017, (13 of 2017.) the following section shall be inserted, namely:––
Transfer of certain amounts.
“17A. 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 113 of the Bill seeks to insert a new section 17A in the Integrated Goods and Services Tax Act so as to provide for transfer of amount in the electronic cash ledger between the Centre and the States as a consequence new facility given to the tax payers under section 49 of the Central Goods and Service Tax Act.
