https://www.taxtmi.com/acts?id=12171 Specified notifications under section 5A of the Central Excise Act are retrospectively amended; manufacturers who availed exemptions must submit investment details to the Investment Appraisal Committee within six months of Presidential assent; the Committee must verify investments and issue the prescribed certificate by the statutory cutoff. Unutilised escrow balances after the cutoff are forfeited to the Central Government; recovery of duties with interest is to be effected within one year under the Central Excise Act; proceedings challenging actions under the notifications are barred; the Central Government is deemed to have had retrospective amending power; and no new offence is created by the retrospective amendment. en-us Sat, 09 Apr 2011 13:03:44 +0530 Sun, 10 Apr 2011 10:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12171 Specified notifications under section 5A of the Central Excise Act are retrospectively amended; manufacturers who availed exemptions must submit investment details to the Investment Appraisal Committee within six months of Presidential assent; the Committee must verify investments and issue the prescribed certificate by the statutory cutoff. Unutilised escrow balances after the cutoff are forfeited to the Central Government; recovery of duties with interest is to be effected within one year under the Central Excise Act; proceedings challenging actions under the notifications are barred; the Central Government is deemed to have had retrospective amending power; and no new offence is created by the retrospective amendment. Act-Rules F. Acts / Amendment Acts Sat, 09 Apr 2011 13:03:44 +0530 https://www.taxtmi.com/acts?id=12171