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of <h1>Section 43 of GST Act 2017, dealing with tax credit discrepancies and adjustments, omitted by Finance Act 2022.</h1> Section 43 of the Central Goods and Services Tax Act, 2017, which was omitted by the Finance Act, 2022, dealt with the matching, reversal, and reclaim of reductions in output tax liability. It required suppliers to match credit notes with the corresponding reduction in input tax credit claims by recipients. Discrepancies or duplication in claims were communicated to both parties and could result in adjustments to the supplier's output tax liability, including interest liabilities. Suppliers could rectify discrepancies if recipients declared credit notes within a specified timeframe, with provisions for the refund of interest if reductions were accepted.
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