Section 69 - Amendment of Central Excise Rules, 1944 by insertion of new rule 57CCC

Retrospective amendment allows payment with certified input credit and deems past excise actions valid, subject to verification.

Insertion of rule 57CCC retrospectively amends the Central Excise Rules, 1944. A person may opt to pay amounts with interest and apply to the Commissioner within six months, submitting documentary evidence and a Chartered Accountant or Cost Accountant certificate certifying input credit attributable to inputs used in exempt or nil-rated final products. The Commissioner must verify payment within two months and require any differential amount with interest to be paid within ten days. Actions taken from 1 September 1996 to 31 March 2000 regarding the amended provisions are deemed valid, the Central Government is vested with retrospective rule-making power for the subsection, and no new punishability is created by the section.