https://www.taxtmi.com/article/detailed?id=11955 The substituted Rule 89(4)(C) capping export turnover is prospective only; the right to refund of unutilized input tax credit accrues on export and may be claimed within two years from the relevant export date. The amendment imposing a ceiling on valuation cannot be applied to determine refunds for periods prior to its effective publication and, where applied retrospectively to deny refunds, is incompatible with the statutory refund scheme and held not applicable. en-us Sat, 14 Oct 2023 18:59:29 +0530 Sat, 14 Oct 2023 18:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11955 The substituted Rule 89(4)(C) capping export turnover is prospective only; the right to refund of unutilized input tax credit accrues on export and may be claimed within two years from the relevant export date. The amendment imposing a ceiling on valuation cannot be applied to determine refunds for periods prior to its effective publication and, where applied retrospectively to deny refunds, is incompatible with the statutory refund scheme and held not applicable. Articles Goods and Services Tax - GST Sat, 14 Oct 2023 18:59:29 +0530 https://www.taxtmi.com/article/detailed?id=11955