Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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 of Bihar GST Act 2017: Matching, Reversal, and Reclaiming Reductions in Output Tax Liability Explained</h1> Section 43 of the Bihar Goods and Services Tax Act, 2017 outlines the process for matching, reversal, and reclaiming reductions in output tax liability. It requires the matching of credit notes issued by suppliers with the corresponding reduction in input tax credit claims by recipients. Discrepancies or duplications in claims are communicated to both parties. Unrectified discrepancies or duplications are added to the supplier's output tax liability, with interest payable from the date of the claim until rectification. If the recipient later declares the credit note correctly, the supplier can reduce their output tax liability, and any interest paid may be refunded.
TaxTMI 
TaxTMI 
