Amendment of rule 6 of CENVAT Credit Rules, 2004.
144. (1) In the CENVAT Credit Rules, 2004, made by the Central Government in exercise of the powers conferred by section 37 of the Central Excise Act, 1944, (1 of 1944) sub-rule (6A) of rule 6 as inserted by clause (ix) of rule 5 of the CENVAT Credit (Amendment) Rules, 2011, published in the Official Gazette vide notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 134(E), dated the 1st March, 2011 shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of the Eighth Schedule, on and from the date specified in column (3) of that Schedule, against the rule specified in column (1) of that Schedule.
(2) Notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, any action taken or anything done or purported to have been taken or done, on and from the 10th day of February, 2006, relating to the provisions as amended by sub-section (1), shall be deemed to be and deemed always to have been, for all purposes, as validly and effectively taken or done as if the amendments made by sub-section (1) had been in force at all material times. (3) For the purpose of sub-section (1), the Central Government shall have and shall be deemed to have the power to make rules with retrospective effect as if the Central Government had the power to make rules under section 37 of the Central Excise Act, 1944, (1 of 1944) retrospectively, at all material times.
Notes on Clauses:
Clause 144 of the Bill seeks to give retrospective effect to sub-rule (6A) of rule 6, inserted vide the notification of the Government of India number G.S.R. 134(E), dated the 1st March, 2011, in the CENVAT Credit Rules, 2004, from the 10th day of February, 2006 in the manner specified in the Eighth Schedule.
This amendment will take effect from the date on which this Bill receives the assent of the President.
