In this paper, modulation of light-matter interactions by a magnetic field is used to generate circular dichroism (CD) from an achiral plasmonic nanostructure. Theoretical investigations show an increase in light absorption by the nanostructure in the presence of a magnetic field. The achiral nanostructure exhibits CD in external magnetic field parallel to circularly polarized light (CPL) incidence. The CD emergence is caused by modulation of electron motion to reduced/enhanced frequencies under CPL incidence. Compared to previous studies, in this paper the mechanism of CD emergence, and the physical reasoning behind the change in CD due to change in magnetic field direction and intensity, are explained. CD intensity increases with increasing magnetic field intensity, while CD sign changes on magnetic field direction reversal. Varying structural parameters significantly influences CD intensity. This study can be helpful in magneto-optics and in magneto-chiral applications.