https://www.taxtmi.com/circulars?id=6393 Wrong Modvat credit reversals must account for the assessee's Personal Ledger Account (PLA) balances and record PLA sufficiency before recovery; penalties for wrongful credit must be proportionate to the interest that would have been payable had funds been borrowed, and divisional offices and adjudicating authorities must issue and follow instructions ensuring these considerations in reversal orders. en-us Mon, 03 Feb 1992 00:00:00 +0530 Fri, 03 Jul 2009 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6393 Wrong Modvat credit reversals must account for the assessee's Personal Ledger Account (PLA) balances and record PLA sufficiency before recovery; penalties for wrongful credit must be proportionate to the interest that would have been payable had funds been borrowed, and divisional offices and adjudicating authorities must issue and follow instructions ensuring these considerations in reversal orders. Circulars Central Excise Mon, 03 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6393