Input tax credit matching triggers output liability adjustments and interest obligations for recipients upon unrectified discrepancies. Matching of input tax credit requires reconciling inward supplies with supplier returns, import tax payments, and duplicate claims. Matched claims are accepted and communicated. Discrepancies where supplier declaration is absent are communicated and, if not rectified, added to the recipient's output tax liability; duplicate-claim excesses are similarly added. Additions may be reduced if the supplier declares the invoice within the prescribed period; added amounts attract interest from the date of availing credit, and refunded interest on accepted reductions is credited to the recipient's electronic cash ledger, subject to a cap equal to interest paid by the supplier.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit matching triggers output liability adjustments and interest obligations for recipients upon unrectified discrepancies.
Matching of input tax credit requires reconciling inward supplies with supplier returns, import tax payments, and duplicate claims. Matched claims are accepted and communicated. Discrepancies where supplier declaration is absent are communicated and, if not rectified, added to the recipient's output tax liability; duplicate-claim excesses are similarly added. Additions may be reduced if the supplier declares the invoice within the prescribed period; added amounts attract interest from the date of availing credit, and refunded interest on accepted reductions is credited to the recipient's electronic cash ledger, subject to a cap equal to interest paid by the supplier.
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