Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 12A] [Entire Act]

Union of India - Subsection

Section 12A(7) in CENVAT Credit Rules, 2004

(7)Provisions of these rules, in so far as they are not inconsistent with the provisions of this rule shall mutatis mutandis apply in case of a large taxpayer.]
12AA. Power to impose restrictions in certain types of cases.- Notwithstanding anything contained in these rules, where the Central Government, having regard to the extent of misuse of CENVAT credit, nature and type of such misuse and such other factors as may be relevant, is of the opinion that in order to prevent the misuse of the provisions of CENVAT credit as specified in these rules, it is necessary in the public interest to provide for certain measures including restrictions on a manufacturer, first stage and second stage dealer or an exporter, may by a notification in the Official Gazette, specify nature of restrictions including restrictions on utilization of CENVAT credit and suspension of registration in case of a dealer and type of facilities to be withdrawn and procedure for issue of such order by an officer authorized by the Board.
[12AAA: Power to impose restrictions in certain types of cases - Notwithstanding anything contained in these rules, where the Central Government, having regard to the extent of misuse of CENVAT credit, nature and type of such misuse and such other factors as may be relevant, is of the opinion that in order to prevent the misuse of the provisions of CENVAT credit as specified in these rules, it is necessary in the public interest to provide for certain measures including restrictions on a manufacturer [registered importer or] [Substituted by Notification No. GSR 138 (E) dated 12.3.2012 (w.e.f. 10.09.2004)] first stage and second stage dealer or an exporter, may by a notification in the Official Gazette, specifY the nature of restrictions including restrictions on utilization of CENVAT credit and suspension of registration in case of a [an importer or] [Inserted by Notification No. G.S.R. 151(E) dated 1.3.2015 (w.e.f. 10.9.2004)] dealer and type of facilities to be withdrawn and procedure for issue of such order by an officer authorized by the Board.]