A manufacturer of exempted and non-exempted goods or a service provider of exempted and taxable services are entitled to Cenvat credit under sub-section (4) section 140 on

• A. All goods whether in stock or in finished goods or in semi-finished goods is eligible
• B. Only goods directly pertaining to non-exempted goods or taxable services is eligible
• C. Only proportionate credit based on the previous year turnover of non-exempted goods or taxable services is eligible
• D. No credit is available in such cases