Retroactive validation permits importers to claim drawback or CENVAT credit for additional customs duty from an earlier effective date. A deeming amendment retroactively validates condition No.7 of a customs notification, declaring that importers are entitled to avail of drawback or CENVAT ... Summary
Retroactive validation permits importers to claim drawback or CENVAT credit for additional customs duty from an earlier effective date.
A deeming amendment retroactively validates condition No.7 of a customs notification, declaring that importers are entitled to avail of drawback or CENVAT credit of additional duty leviable under the Customs Tariff Act against amounts debited in the relevant certificate, and providing that no act or omission shall be punishable if it would not have been so but for the retrospective operation of this provision.
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