Restriction on input credit of petroleum products: retrospective validation bars challenges and mandates recovery with interest. The section deems a notification under rule 57A to have operated from an earlier specified date and to prevail over other notifications in the intervening period, identifies the specified petroleum products, and declares that actions taken in that period under displaced notifications are to be treated as valid and effective as if the later notification had been in force. Credits restricted are deemed validly restricted, suits to allow credit are barred, recovery is required for credits that would have been restricted, subject to a limited payment period and interest on default; no new punishability is created.
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.
Restriction on input credit of petroleum products: retrospective validation bars challenges and mandates recovery with interest.
The section deems a notification under rule 57A to have operated from an earlier specified date and to prevail over other notifications in the intervening period, identifies the specified petroleum products, and declares that actions taken in that period under displaced notifications are to be treated as valid and effective as if the later notification had been in force. Credits restricted are deemed validly restricted, suits to allow credit are barred, recovery is required for credits that would have been restricted, subject to a limited payment period and interest on default; no new punishability is created.
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