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of <h1>Section 43 of Rajasthan GST Act: Matching, Reversing, and Reclaiming Tax Reductions for Suppliers and Recipients Explained.</h1> Section 43 of the Rajasthan Goods and Services Tax Act, 2017, outlines the process for matching, reversing, and reclaiming reductions in output tax liability. It mandates that credit notes related to outward supplies by a supplier must be matched with corresponding input tax credit claims by the recipient. Discrepancies, such as unmatched reductions or duplications, are communicated to both parties, with unresolved issues leading to adjustments in the supplier's tax liability. The supplier may reduce their liability if the recipient rectifies the issue timely. Interest is applicable on discrepancies, but refundable if reductions are later accepted.
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