https://www.taxtmi.com/forum/issue?id=116096 Misclassification of Input Tax Credit in GSTR 3B should be rectified by intimating the department and obtaining defreezing of the return via the jurisdictional Range Officer or Deputy Commissioner so the credit can be reversed and reclassified under the proper import goods head. Although the lapse is procedural and interest is compensatory where no revenue loss occurs, the legal position remains that interest may be chargeable for availment of credit under a wrong tax head, subject to the limited statutory exception when tax is paid under IGST instead of CGST/SGST. en-us Tue, 03 Mar 2020 16:22:30 +0530 Thu, 23 Jan 2025 15:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116096 Misclassification of Input Tax Credit in GSTR 3B should be rectified by intimating the department and obtaining defreezing of the return via the jurisdictional Range Officer or Deputy Commissioner so the credit can be reversed and reclassified under the proper import goods head. Although the lapse is procedural and interest is compensatory where no revenue loss occurs, the legal position remains that interest may be chargeable for availment of credit under a wrong tax head, subject to the limited statutory exception when tax is paid under IGST instead of CGST/SGST. Discussion-Forum GST Tue, 03 Mar 2020 16:22:30 +0530 https://www.taxtmi.com/forum/issue?id=116096