Chapter VIII - Apportionment Of Tax And Settlement Of Funds
Section 17A - Transfer of Certain Amounts
Section 17A - Process for Transferring Funds Between Tax Ledgers
This section outlines the procedure for transferring funds between different government tax accounts. Specifically, when money is moved from the electronic cash ledger under one tax act to another, such as from the central to the state or union territory tax accounts, the government is responsible for ensuring an equivalent amount is transferred to the respective tax account. This must be done in a prescribed manner and within a specified timeframe to ensure proper allocation of funds between various tax authorities.
Note: It is an AI generated summary for reference purpose only.
1[17A. Transfer of Certain Amounts
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.]1
