https://www.taxtmi.com/caselaws?id=170416 Interest is payable on belated reversal of MODVAT credit taken on capital goods removed as such, because credit is not admissible once such goods are removed and the assessee must reverse it under Rule 57U. The obligation to reverse the credit is not limited to cases where the assessee itself effects the removal; removal by any person does not change the requirement. As the reversal was made after delay, interest accrued for the period of belated payment. The demand for interest was upheld and the appeal was dismissed. en-us Thu, 30 Apr 2009 00:00:00 +0530 Wed, 27 May 2015 12:59:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170416 Interest is payable on belated reversal of MODVAT credit taken on capital goods removed as such, because credit is not admissible once such goods are removed and the assessee must reverse it under Rule 57U. The obligation to reverse the credit is not limited to cases where the assessee itself effects the removal; removal by any person does not change the requirement. As the reversal was made after delay, interest accrued for the period of belated payment. The demand for interest was upheld and the appeal was dismissed. Case-Laws Central Excise Thu, 30 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170416