Retrospective amendment to excise notification restores duty exemptions and enables refunds with a limited claim period. Clause 102 retrospectively amends the earlier excise notification to recognize specified duty exemptions in the Fifth Schedule, deems the Central Government to have had retrospective power under section 5A(1), provides refunds of excise duty collected but not due (subject to section 11B), permits refund claims within six months from Presidential assent to the Finance (No. 2) Bill, 2014, and removes retrospective criminal liability. The retrospective exemptions cover polyester fibre/yarn from plastic waste (and captive tow) and unbranded precious metal articles as specified.
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Retrospective amendment to excise notification restores duty exemptions and enables refunds with a limited claim period.
Clause 102 retrospectively amends the earlier excise notification to recognize specified duty exemptions in the Fifth Schedule, deems the Central Government to have had retrospective power under section 5A(1), provides refunds of excise duty collected but not due (subject to section 11B), permits refund claims within six months from Presidential assent to the Finance (No. 2) Bill, 2014, and removes retrospective criminal liability. The retrospective exemptions cover polyester fibre/yarn from plastic waste (and captive tow) and unbranded precious metal articles as specified.
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