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If turnover is exempt in current year, then no CENVAT can be taken of
- Input Services
However, Cenvat on Capital goods can be taken but it can be utilized only on paying excise duty greater than 1.5 crore.
Normally on capital goods 50% cenvat to be taken in current year and 50% in next year but in this case, 100% Cenvat available in first year itself