Notification no. 14/2022-Central Tax inserting explanation in rule 89 of CGST Rules has prospective effect

Tata Steel Limited Vs Union of India (Jharkhand High Court) Jharkhand High Court held that the explanation inserted in Rule 89 (4) of CGST Rules, 2017 vide Notification No. 14/2022-Central Tax dated 05.07.2022 is not clarificatory in nature and thus will have a prospective effect. Facts- The petitioner requires coal for manufacturing iron and steel. The petitioner avails Input Tax Credit (“ITC”) of the said compensation cess charged on supply of coal. Since the Petitioner undertakes export of goods under Bond/ Letter of Undertaking without payment of tax, it results in accumulation of bala...