Node Sass-loader TailwindCSS import resolution error

I am working with a Rails 6 application that uses Webpacker, TailwindCSS, Sass loader among others. The application was working perfectly fine a day ago but seeing the following error upon running - bin/webpack-dev-server

ERROR in ./app/assets/packs/application.scss
Module build failed (from ./node_modules/mini-css-extract-plugin/dist/loader.js):
ModuleBuildError: Module build failed (from ./node_modules/sass-loader/dist/cjs.js):
SassError: File to import not found or unreadable: tailwindcss/base.
        on line 1 of /app/assets/packs/application.scss
>> @import "tailwindcss/base";

   ^

    at /node_modules/webpack/lib/NormalModule.js:316:20
    at /node_modules/loader-runner/lib/LoaderRunner.js:367:11
    at /node_modules/loader-runner/lib/LoaderRunner.js:233:18
    at context.callback (/node_modules/loader-runner/lib/LoaderRunner.js:111:13)
    at Object.callback (/Users/lohittalasila/dev/dwellin/node_modules/sass-loader/dist/index.js:73:7)
    at Object.done [as callback] (/node_modules/neo-async/async.js:8069:18)
    at options.error (/node_modules/node-sass/lib/index.js:294:32)
Child mini-css-extract-plugin node_modules/css-loader/dist/cjs.js??ref--6-1!node_modules/postcss-loader/src/index.js??ref--6-2!node_modules/sass-loader/dist/cjs.js??ref--6-3!app/assets/packs/application.scss:

    ERROR in ./app/assets/packs/application.scss (./node_modules/css-loader/dist/cjs.js??ref--6-1!./node_modules/postcss-loader/src??ref--6-2!./node_modules/sass-loader/dist/cjs.js??ref--6-3!./app/assets/packs/application.scss)
    Module build failed (from ./node_modules/sass-loader/dist/cjs.js):
    SassError: File to import not found or unreadable: tailwindcss/base.
            on line 1 of /packs/application.scss
    >> @import "tailwindcss/base";

       ^

    SassError: SassError: File to import not found or unreadable: tailwindcss/base.
            on line 1 of /Users/lohittalasila/dev/dwellin/app/assets/packs/application.scss
    >> @import "tailwindcss/base";

       ^

        at Object.callback (/node_modules/sass-loader/dist/index.js:73:16)
        at Object.done [as callback] (/node_modules/neo-async/async.js:8069:18)
        at options.error (/node_modules/node-sass/lib/index.js:294:32)
ℹ ｢wdm｣: Failed to compile.

Any insight into what might be causing this and how I could resolve this, would be very helpful. Thanks!