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of <h1>Section 43 of Jharkhand GST Act 2017: Process for Matching, Reversing, and Reclaiming Output Tax Liability Reductions Explained</h1> Section 43 of the Jharkhand Goods and Services Tax Act, 2017, outlines the process for matching, reversing, and reclaiming reductions in output tax liability. It requires the details of credit notes related to outward supplies, submitted by the supplier, to be matched with the recipient's input tax credit claims. Discrepancies or duplications are communicated to both parties, and unresolved issues result in adjustments to the supplier's output tax liability. Suppliers can reclaim reductions if recipients declare credit notes within a specified period. Interest is applicable on discrepancies, and refunds are provided if reductions are accepted.
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