Restriction on Cenvat credit utilization limits use of credits for specific duties and conditions on exemption provisions. Restriction on Cenvat credit availment governs which credits may be utilized and the contexts in which they may be applied. Credit from inputs or capital goods produced by export oriented or notified units and used domestically is subject to a specific formula under the Cenvat Credit Rules. Certain duty components are ring fenced for payment of their respective duties. Credit utilization in a tax period cannot exceed the closing balance available on the last day of that period. Exemption rules conditioned on non availment of Cenvat credit prevail over the Cenvat Credit Rules.