Kolkata customs during scrutiny raised wrong classification of imported goods after 1 year. Similar import was earlier done properly. But this time,CHA made mistake and customs rightly raised demand. We paid differential igst without Demur. Can we get ITC?
Is it restricted by virtue of SEC 74 129 130 etc?
If you've paid differential IGST (Integrated Goods and Services Tax) post-customs scrutiny and notice, here's a step-by-step guide to avail ITC (Input Tax Credit): 1. _Verify the notice_: Ensure the notice is genuine and the differential IGST amount is correct. 2. _Pay the differential IGST_: Pay the differential IGST amount mentioned in the notice. 3. _Obtain a receipt_: Get a receipt or acknowledgement from the customs authorities for the payment made. 4. _Update your records_: Record the payment details, including the date, amount, and receipt number. 5. _File GSTR-3B_: Report the differential IGST payment in your GSTR-3B return for the relevant month. 6. _Claim ITC in GSTR-3B_: Claim the ITC for the differential IGST paid in the same GSTR-3B return. 7. _Maintain documentation_: Keep all relevant documents, including the notice, receipt, and GSTR-3B returns, for future reference. 8. _Consult a tax expert_: If you're unsure or face any issues, consult a tax expert or chartered accountant for guidance. Remember to claim the ITC in the same tax period in which the differential IGST was paid to avoid any potential losses.
If a penalty is imposed by customs authorities it could be deemed as a fraud case. Otherwise it will not get hit by the restriction.This is the logic adopted by AAR Chennai in case of Mitsubishi Electric Private limited petition.
https://gstchennai.gov.in/images/pdf/advance-ruling-under-gst/TN_116_AAR_2023_Mitsubushi_Electric_India_Pvt_Ltd.pdf
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