Retrospective amendment allows regularisation of input credit by payment with interest upon certified application to excise authorities. Retrospective amendment to rule 57AD permits persons to regularise input credit for exempt or nil rated final products by paying the specified amount with interest and applying to the Commissioner within six months of presidential assent, supported by documentary evidence and a Chartered Accountant or Cost Accountant certificate; the Commissioner must verify payments within a set period and require prompt payment of any differential, while actions in the transitional period are validated and no new punishment is created for previously non punishable conduct.
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 allows regularisation of input credit by payment with interest upon certified application to excise authorities.
Retrospective amendment to rule 57AD permits persons to regularise input credit for exempt or nil rated final products by paying the specified amount with interest and applying to the Commissioner within six months of presidential assent, supported by documentary evidence and a Chartered Accountant or Cost Accountant certificate; the Commissioner must verify payments within a set period and require prompt payment of any differential, while actions in the transitional period are validated and no new punishment is created for previously non punishable conduct.
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