Eligibility of Modvat Credit where raw materials are destroyed in fire - Instructions reg.

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.... Eligibility of Modvat Credit where raw materials are destroyed in fire - Instructions reg. Instances have come to the notice of the Board where raw materials on which Modvat Credit already been taken were destroyed in a fire accident before their use in the manufacture of finished excisable goods. The point involved was whether in such a case the Modvat credit taken on the inputs was required to....