Retrospective amendment of excise exemptions extends investment compliance timelines and enables certificate-based validation and recovery. Retrospective amendment of section 5A notifications deems specified excise exemption notifications amended from corresponding retrospective dates to extend investment timelines. Manufacturers using the amended exemptions must provide investment details to the Investment Appraisal Committee within six months of presidential assent; the Committee must verify investments and issue certificates by the prescribed cut-off. Unutilised escrow funds after the cut-off are forfeited to the Central Government. Recovery of duties and interest otherwise due may be effected within a one-year window, and suits or proceedings challenging actions under the deemed retrospective amendments are barred.
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Provisions expressly mentioned in the judgment/order text.
Retrospective amendment of excise exemptions extends investment compliance timelines and enables certificate-based validation and recovery.
Retrospective amendment of section 5A notifications deems specified excise exemption notifications amended from corresponding retrospective dates to extend investment timelines. Manufacturers using the amended exemptions must provide investment details to the Investment Appraisal Committee within six months of presidential assent; the Committee must verify investments and issue certificates by the prescribed cut-off. Unutilised escrow funds after the cut-off are forfeited to the Central Government. Recovery of duties and interest otherwise due may be effected within a one-year window, and suits or proceedings challenging actions under the deemed retrospective amendments are barred.
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