https://www.taxtmi.com/acts?id=26431 Every supplier credit note must be matched with the recipient's corresponding reduction in input tax and checked for duplication; matched reductions are accepted and communicated. Where supplier reductions exceed recipient declarations or recipient fails to declare a credit note, a discrepancy is communicated and the unreconciled amount is added to the supplier's output tax in the succeeding return. Amounts added for duplication are likewise restored. The supplier is liable for interest on amounts so added from the date of the original claim; if the recipient later declares the credit note within the specified period the supplier may reclaim the amount and interest is refundable to the supplier's electronic cash ledger, subject to prescribed limits. en-us Sat, 17 Jun 2017 16:18:56 +0530 Wed, 21 Jun 2017 13:19:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26431 Every supplier credit note must be matched with the recipient's corresponding reduction in input tax and checked for duplication; matched reductions are accepted and communicated. Where supplier reductions exceed recipient declarations or recipient fails to declare a credit note, a discrepancy is communicated and the unreconciled amount is added to the supplier's output tax in the succeeding return. Amounts added for duplication are likewise restored. The supplier is liable for interest on amounts so added from the date of the original claim; if the recipient later declares the credit note within the specified period the supplier may reclaim the amount and interest is refundable to the supplier's electronic cash ledger, subject to prescribed limits. Act-Rules GST - States Sat, 17 Jun 2017 16:18:56 +0530 https://www.taxtmi.com/acts?id=26431