TMI Blog2015 (2) TMI 516X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 40,166/-. The learned counsel drew my attention to another worksheet which showed the details of invoices on which credit was taken and the learned counsel submitted that appellant had followed FIFO method and arrived at the quantum of cenvated inputs used in the final products and such cenvated inputs contained in the final product lying in stock. Prima facie, I found that worksheet to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -SM - Stay Order No: 20034/ 2015 - Dated:- 2-1-2015 - Mr. B. S. V. Murthy,JJ. For the Appellant : Mr. Girish. K For the Respondent : Dr. A. K. Nigam ORDER Per : B. S. V. Murthy Appellant is a SSI unit and on the ground that appellant had not reversed the CENVAT credit of duty taken in respect of closing stock as on 31.3.2010, proceedings were initiated culminating in confi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant was having stock of 63,473 kilograms of finished goods as on 31.3.2010. Department issued SCN for recovery of CENVAT credit on closing stock as on 31.3.2010 on the assumption that 50,778 kilograms of pig iron i.e., 80% of pig iron contained in closing stock is of CENVAT availed quantity. Erroneous quantification of demand (both qty. and rate of duty). CENVAT contained stock is only 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... product lying in stock. Prima facie, I found that worksheet to be in order and even though learned AR requested that the matter may be remanded for verification, I find that in view of the submissions by the learned counsel that the figures are correct and the unit has closed down and now it may not be possible to do any further verification also even though learned counsel promised to produce re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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