2018 (2) TMI 799

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..... This appeal has been filed by M/s.Sushila International against a demand of reversal of Cenvat Credit on the stocks at the time of surrender of their licence. 2. Ld. Counsel for the appellant argued that they were registered for manufacture of manmade fabrics.  The appellants were availing Cenvat Credit on the duty paid inputs, viz., Polyester Texturised Yarn received by them.  The ap....

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.... ascertained from their own records.  They are only challenging the demand on the ground of limitation.  He argued that they have surrendered the licence in July 2006 but the surrender was not accepted. The unit was audited in July 2007 and show-cause notice was issued only in May 2010.  He argued that along with every return they were declaring the quantity of raw materials brought....