TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 43: Rules for matching supplier and recipient credit-notes, correcting discrepancies, and adjusting output tax liability with interest</h1> Section 43 previously governed matching credit-note details between a supplier and recipient to reconcile reductions in output tax and input tax credits, required prescribed reporting, and addressed duplication of claims. Matched reductions were to be accepted and communicated; discrepancies or duplications were to be notified to both parties. Unrectified discrepancies or duplications would be added to the supplier's output tax liability in the succeeding return, with interest charged from the date of the original reduction claim. If the recipient later declared the credit note within the prescribed time, the supplier could adjust liability and receive limited interest refund to the electronic cash ledger.
TaxTMI 
TaxTMI 
