Admissibility of Modvat on inputs stored outside the factory premises.

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.... been receiving representations on the issue relating to availment of MODVAT credit on material which is not received directly inside the manufacturer's premises and the same is required to be stored outside the factory premises and subsequently transshipped to the manufacturer's factory. This point was also raised in the 35th Central Advisory Council in meeting held on 4th November, 1995 wherein ....