Retrospective amendment of excise duty exemptions enabling refunds and barring prosecution for specified LPG and polyester supplies. Authorises retrospective amendment of notification G.S.R. 163 (E) under section 5A of the Central Excise Act, treating the Central Government as having retrospective amendment power at all material times; confers retrospective excise duty exemptions for specified LPG supplies and polyester products manufactured from plastic waste; provides for refund of duty collected that would not have been collected had the notification been in force, subject to statutory refund provisions; limits the period for refund claims to a fixed window from assent to the Finance Bill; and bars punishment for acts that would not have been offences absent the retrospective amendment.
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Retrospective amendment of excise duty exemptions enabling refunds and barring prosecution for specified LPG and polyester supplies.
Authorises retrospective amendment of notification G.S.R. 163 (E) under section 5A of the Central Excise Act, treating the Central Government as having retrospective amendment power at all material times; confers retrospective excise duty exemptions for specified LPG supplies and polyester products manufactured from plastic waste; provides for refund of duty collected that would not have been collected had the notification been in force, subject to statutory refund provisions; limits the period for refund claims to a fixed window from assent to the Finance Bill; and bars punishment for acts that would not have been offences absent the retrospective amendment.
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