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 GST Act: Matching, Reversing, Reclaiming Tax Reductions; Penalties for Unauthorized Reductions and Interest on Discrepancies.</h1> Section 43 of the West Bengal Goods and Services Tax Act, 2017, outlines the process for matching, reversing, and reclaiming reductions in output tax liability. It requires the matching of credit notes related to outward supplies with the corresponding reduction in input tax credit claims by recipients. Discrepancies or duplications in claims must be communicated to both parties and, if unresolved, added to the supplier's output tax liability. Suppliers can reclaim reductions if recipients declare credit notes timely. Interest is applicable on discrepancies, but refundable if resolved. Unauthorized reductions are penalized with additional tax liability and interest.
TaxTMI 
TaxTMI 
