Cenvat credit restriction clarified: exemption applies where no credit on inputs or exclusive capital goods has been availed. The exemption at S.No. 122 is clarified to be satisfied where no CENVAT credit has been availed for (i) inputs and (ii) capital goods used exclusively in manufacture of those goods, with the non availment linked to the CENVAT Credit Rules; the Explanation is inserted into the notification and given retrospective effect.