TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2002 validates past excise actions, mandates recovery of duties with interest, and halts future legal proceedings.</h1> The Finance Act, 2002, amends a notification under section 5A of the Central Excise Act, originally issued on July 8, 1999. This amendment is applied retrospectively from July 8, 1999, to February 28, 2002, validating past actions taken under the notification despite any legal challenges. The Central Government is empowered to amend the notification retrospectively. From March 1, 2002, no legal proceedings can continue regarding actions under the notification, and any uncollected or refunded duties must be recovered within 30 days of the Finance Bill's presidential assent. Interest at 15% per annum applies to unpaid amounts after this period. No actions are punishable if not deemed so before the amendment.
TaxTMI 
TaxTMI 
