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of <h1>Section 43: Matching and Reclaim of Tax Reductions in Telangana GST Act 2017 Explained</h1> Section 43 of the Telangana Goods and Services Tax Act, 2017, addresses the matching, reversal, and reclaim of reductions in output tax liability. It requires suppliers to match credit notes with corresponding input tax credit reductions by recipients. Discrepancies or duplications in claims are communicated to both parties, and unresolved discrepancies are added to the supplier's output tax liability. Suppliers can reclaim reductions if recipients declare credit notes timely. Interest is payable on discrepancies, but refunded if resolved. Violations of these provisions result in added liabilities and interest penalties for the supplier.
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