Matching of credit notes adjusts supplier output tax liability, with communication, additions and interest consequences.

Matching of credit notes requires supplier details to be reconciled with the recipient's reduction in input tax credit; accepted matches are communicated to the supplier. Discrepancies or duplications are communicated and, if unrectified, added to the supplier's output tax liability in the subsequent return or in the month of communication. Added amounts attract interest from the date of the original claim until addition. If the recipient later declares the credit note within the prescribed time, the supplier may reduce the added amount and receive a refund of interest, limited to the interest paid by the recipient.

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