Retrospective amendment of customs notification validates past actions and permits rebate/CENVAT use, subject to repayment with interest. Amendment declares the referenced customs notification amended retrospectively and validates past actions as if the amended notification had been in force; the Central Government is deemed to have had power to make the retrospective amendment at all material times. It requires recovery of amounts that would have been payable had the amendment been effective from the date the Finance (No. 2) Bill, 2009 received Presidential assent, excludes retrospective criminal liability, and prescribes entitlement to rebate or CENVAT credit and conditions for repayment with interest where authorisations or imported materials are transferred.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Retrospective amendment of customs notification validates past actions and permits rebate/CENVAT use, subject to repayment with interest.
Amendment declares the referenced customs notification amended retrospectively and validates past actions as if the amended notification had been in force; the Central Government is deemed to have had power to make the retrospective amendment at all material times. It requires recovery of amounts that would have been payable had the amendment been effective from the date the Finance (No. 2) Bill, 2009 received Presidential assent, excludes retrospective criminal liability, and prescribes entitlement to rebate or CENVAT credit and conditions for repayment with interest where authorisations or imported materials are transferred.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
