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of <h1>Section 38: Procedures for Matching, Reversing, and Reclaiming Reductions in GST Output Tax Liability Explained</h1> Section 38 of the Model GST Law outlines the procedures for matching, reversing, and reclaiming reductions in output tax liability. It mandates that credit notes for outward supplies by suppliers must be matched with corresponding reductions in input tax claims by recipients. Discrepancies or duplications in claims are communicated to both parties, and unresolved issues result in adjustments to the supplier's tax liability. Suppliers can reclaim reductions if recipients declare credit notes within specified timeframes. Interest is applicable on discrepancies, and refunds are issued for accepted reductions. Non-compliance results in additional tax liabilities and interest penalties for suppliers.
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