https://www.taxtmi.com/caselaws?id=184881 The High Court directed the appointment of a Cost Accountant to determine the correct amount of Modvat Credit to be reversed under the Special Scheme dated 04.01.1997. The petitioners were required to submit figures and calculations for review. After the Cost Accountant's report, the adjudicating authority would determine the correct amount of Modvat Credit to be reversed, addressing any excess or short reversal. Interest would apply for short reversal, while excess reversal would grant Modvat (Cenvat) benefit. The court's fixed interest rate would stand, and compliance would satisfy the scheme. The writ petition was disposed of without costs, allowing challenge only on adjudication merits, not interest rate. en-us Fri, 08 Nov 2013 00:00:00 +0530 Sat, 23 Jul 2016 12:24:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184881 The High Court directed the appointment of a Cost Accountant to determine the correct amount of Modvat Credit to be reversed under the Special Scheme dated 04.01.1997. The petitioners were required to submit figures and calculations for review. After the Cost Accountant's report, the adjudicating authority would determine the correct amount of Modvat Credit to be reversed, addressing any excess or short reversal. Interest would apply for short reversal, while excess reversal would grant Modvat (Cenvat) benefit. The court's fixed interest rate would stand, and compliance would satisfy the scheme. The writ petition was disposed of without costs, allowing challenge only on adjudication merits, not interest rate. Case-Laws Central Excise Fri, 08 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184881