https://www.taxtmi.com/caselaws?id=66491 Promissory estoppel may bind the State even in fiscal incentive schemes where industries have altered their position in reliance on a statutory representation of exemption, so a later policy change cannot defeat accrued claims absent overriding public interest. Subordinate legislation also cannot be given retrospective effect to extinguish vested benefits unless the parent statute clearly authorises such operation. Applying these principles, the text states that units which acted on the existing sales tax exemption policy retained their entitlement, and later amendments deleting the relevant note could not retrospectively take away rights already accrued before express retrospective rule-making power was conferred. en-us Fri, 10 Mar 2006 00:00:00 +0530 Fri, 19 Sep 2025 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66491 Promissory estoppel may bind the State even in fiscal incentive schemes where industries have altered their position in reliance on a statutory representation of exemption, so a later policy change cannot defeat accrued claims absent overriding public interest. Subordinate legislation also cannot be given retrospective effect to extinguish vested benefits unless the parent statute clearly authorises such operation. Applying these principles, the text states that units which acted on the existing sales tax exemption policy retained their entitlement, and later amendments deleting the relevant note could not retrospectively take away rights already accrued before express retrospective rule-making power was conferred. Case-Laws VAT / Sales Tax Fri, 10 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66491