Retrospective amendment requiring payment of input credit attributable to exempt final products, with interest and verification by authority.

Retrospective insertion of rule 57CCC requires manufacturers to pay input credit attributable to inputs used in or in relation to manufacture of final products that are exempt or nil-rated, supported by documentary evidence and a Chartered Accountant or Cost Accountant certificate; payments must be made with prescribed interest and are subject to verification by the Commissioner, who may call for differential amounts where underpayment is detected, and the amendment is declared retrospective with a non-punishment clarification.

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