Compensation Cess / ITC refund available on zero rated supplies, clarifies Finance Ministry

Finance Ministry issues clarification relating to applicability of Compensation Cess leviable under Goods and Services tax (Compensation to States) Act, 2017 in relation to ‘zero rated supplies’ i.e. exports; Says that provision of Section 16 of IGST Act relating to zero rated supply will apply mutatis mutandis for purpose Compensation Cess; Hence, exporter will be eligible for refund of Cess paid on goods exported by him, on similar lines as refund of IGST; No Compensati...