consumer welfore fund
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Answer:
The Consumer Welfare Fund Rules were framed and notified in the Gazette of India in 1992, which have been incorporated in Consumer Welfare Fund Rule 97 of the CGST Rules, 2017. Consumer Welfare Fund has been setup under section 57 of the CGST Act, 2017.
Earlier, the Central Excise and Salt Act, 1944 was amended in 1991 to enable the Central Government to create a Consumer Welfare Fund (CWF) where the money which is not refundable to the manufacturers, etc. is being credited. The Consumer Welfare Fund Rules were notified in the Gazette of India in 1992. Guidelines for seeking financial assistance from Consumer Welfare Fund were framed based on the report of a Working Group set-up in 1993, which was subsequently revised twice, in 2007 and 2014.
Financial assistance from CWF is given to various Institutions including Universities, Voluntary Consumer Organization (VCOs) and States to promote and protect the welfare and interests of the consumers, create consumer awareness and strengthen consumer movement in the country. Grants from CWF have been given for the following major projects:
Creation of Consumer Law Chairs/ Centres of Excellence in Institutions/Universities of repute to foster research and training on consumer related issues.
Projects for spreading consumer literacy and awareness.
Establish Corpus Fund at the State level, through co-contribution.
Before sanctioning grants proposals are invited for seeking financial assistance from the Consumer Welfare Fund from eligible VCOs/NGOs/Academic Institutions in digital/electronic format.
Explanation:
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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.