https://www.taxtmi.com/acts?id=26839 The section mandates matching supplier credit note details with recipient reductions in input tax credit to verify corresponding reductions and prevent duplication. Matched claims are accepted and communicated; discrepancies where supplier reductions exceed recipient declarations are notified to both parties and, if not rectified by the recipient within the prescribed return period, the unmatched amounts are added back to the supplier's output tax liability. Duplication is similarly rectified by adding amounts back. Added amounts attract interest from the date of the original claim, and accepted subsequent declarations permit refund of interest into the supplier's electronic cash ledger, subject to prescribed caps. en-us Thu, 22 Jun 2017 10:29:24 +0530 Fri, 30 Jun 2017 14:35:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26839 The section mandates matching supplier credit note details with recipient reductions in input tax credit to verify corresponding reductions and prevent duplication. Matched claims are accepted and communicated; discrepancies where supplier reductions exceed recipient declarations are notified to both parties and, if not rectified by the recipient within the prescribed return period, the unmatched amounts are added back to the supplier's output tax liability. Duplication is similarly rectified by adding amounts back. Added amounts attract interest from the date of the original claim, and accepted subsequent declarations permit refund of interest into the supplier's electronic cash ledger, subject to prescribed caps. Act-Rules GST - States Thu, 22 Jun 2017 10:29:24 +0530 https://www.taxtmi.com/acts?id=26839