https://www.taxtmi.com/caselaws?id=53293 Retrospective withdrawal of Modvat credit on high speed diesel oil under the Finance Act, 2000 required repayment within 30 days of the President's assent. Where the assessee reversed the credit only after that statutory period, interest became payable under Section 112(2)(b) from the day after expiry of the 30-day window until payment. Pending adjudication proceedings and a High Court stay did not suspend this statutory obligation, and the assessee was required to reverse the credit suo motu within time. en-us Tue, 22 Jun 2004 00:00:00 +0530 Tue, 12 Oct 2010 13:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53293 Retrospective withdrawal of Modvat credit on high speed diesel oil under the Finance Act, 2000 required repayment within 30 days of the President's assent. Where the assessee reversed the credit only after that statutory period, interest became payable under Section 112(2)(b) from the day after expiry of the 30-day window until payment. Pending adjudication proceedings and a High Court stay did not suspend this statutory obligation, and the assessee was required to reverse the credit suo motu within time. Case-Laws Central Excise Tue, 22 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53293