https://www.taxtmi.com/acts?id=25822 Matching of credit notes requires supplier details to be reconciled with the recipient's reduction in input tax credit; accepted matches are communicated to the supplier. Discrepancies or duplications are communicated and, if unrectified, added to the supplier's output tax liability in the subsequent return or in the month of communication. Added amounts attract interest from the date of the original claim until addition. If the recipient later declares the credit note within the prescribed time, the supplier may reduce the added amount and receive a refund of interest, limited to the interest paid by the recipient. en-us Sat, 17 Jun 2017 11:36:57 +0530 Tue, 27 Jun 2017 14:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=25822 Matching of credit notes requires supplier details to be reconciled with the recipient's reduction in input tax credit; accepted matches are communicated to the supplier. Discrepancies or duplications are communicated and, if unrectified, added to the supplier's output tax liability in the subsequent return or in the month of communication. Added amounts attract interest from the date of the original claim until addition. If the recipient later declares the credit note within the prescribed time, the supplier may reduce the added amount and receive a refund of interest, limited to the interest paid by the recipient. Act-Rules GST - States Sat, 17 Jun 2017 11:36:57 +0530 https://www.taxtmi.com/acts?id=25822