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of <h1>Suppliers Must Match Credit Notes with Reductions Under Section 43 of Orissa GST Act 2017; Discrepancies Impact Liability.</h1> Section 43 of the Orissa 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 reductions in input tax credit claims by recipients. Discrepancies or duplications are communicated to both parties, and unresolved discrepancies are added to the supplier's output tax liability. Suppliers can reclaim amounts if recipients rectify their returns. Interest is applicable on added liabilities, but refunded if reductions are accepted. Any contravention results in additional liabilities and interest charges for the supplier.
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