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of <h1>Section 43 of Mizoram GST Act 2017: Rules on Matching, Reversal, and Reclaiming Output Tax Reductions Explained</h1> Section 43 of the Mizoram Goods and Services Tax Act, 2017, addresses the matching, reversal, and reclaiming of reductions in output tax liability. It requires that credit notes related to outward supplies be matched with corresponding reductions in input tax credit claims. If discrepancies arise, they must be communicated to both the supplier and recipient, with unresolved issues being added to the supplier's output tax liability. Duplicate claims are similarly addressed. Suppliers can reclaim reductions if recipients declare credit notes within specified timeframes. Interest is applicable on discrepancies, and refunds are possible if reductions are accepted later.
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