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of <h1>Section 53A: Funds Transfer Between GST Accounts Must Follow Prescribed Timeframe and Manner</h1> Section 53A of the Central Goods and Services Tax Act, 2017, mandates that when an amount is 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 must transfer an equivalent amount to the respective State tax account or Union Territory tax account. This transfer must occur in the manner and within the timeframe prescribed by the relevant authorities. This provision was introduced by the Finance (No. 2) Act, 2019, effective from January 1, 2020.
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