CBEC – GST:
CBEC has issued Clarification regarding applicability of section 16 of the IGST Act, 2017, relating to zero rated supply for the purpose of Compensation Cess on exports. It is hereby clarified that provisions of section 16 of the IGST Act, 2017, relating to zero rated supply will apply mutatis mutandis for the purpose of Compensation Cess ( wherever applicable). Further, Exporter will be eligible for refund of Compensation Cess paid on goods exported by him [on similar lines as refund of IGST under section 16(3) (b) of the IGST, 2017] and No Compensation Cess will be charged on goods exported by an exporter under bond and he will be eligible for refund of input tax credit of Compensation Cess relating to goods exported [on similar lines as refund of input taxes under section 16(3) (a) of the IGST, 2017].
MCA – NCLT:
The NCLT, Mumbai Bench is reconstituted on appointment of Shri Bhaskara Pantula Mohan, Member (Judicial). Mr Mohan has recently joined the NCLT and posted at NCLT Mumbai vide order no.10/36/2016-NCLT dated 31.7.2017. Accordingly, the Benches at NCLT Mumbai are hereby reconstituted as NCLT Division Bench-I {Shri B.S.V. Prakash Kumar, Member (Judicial) & Shri V. Nallasenapathy, Member (Technical)} and NCLT Division Bench-II {Shri M.K. Shrawat, Member (Judicial) & Shri Bhaskara Pantula Mohan Member (Judicial)}. This is in modification of Order of even number dated 05.07.2016. This shall come into force w.e.f. 3.8.2017.
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