Jayanta Bandyopadhyay (310 Points)
25 July 2024Kolkata 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?
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5128 Points)
Replied 25 July 2024
VENU K
(6 Points)
Replied 27 July 2024
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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