GSTAT holds that the exclusion of duty credit scrips from exempt supplies under Rule 43 of the CGST Rules applies prospectively and cannot be claimed for past periods.
The taxpayer is engaged in the manufacture and supply of electrical apparatus and was also undertaking the sale of MEIS duty credit scrips. During FY 2017-18 to FY 2019-20, the taxpayer had taxable supplies as well as supplies of duty credit scrips, which were treated as exempt supplies.