https://www.taxtmi.com/acts?id=26994 Matching of input tax credit reconciles a recipient's inward-supply details with supplier outward-supply returns, import tax records, and duplicate-claim checks. Accepted matches are communicated as prescribed; discrepancies and duplications are notified to both parties. Unrectified discrepancies and excess credits due to duplication are added to the recipient's output tax liability, and interest accrues from the date credit was availed. If the supplier later declares the invoice within the prescribed period, the recipient's liability is reduced and interest refunded to the electronic cash ledger, limited to interest paid by the supplier. en-us Thu, 22 Jun 2017 15:36:08 +0530 Thu, 22 Jun 2017 15:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26994 Matching of input tax credit reconciles a recipient's inward-supply details with supplier outward-supply returns, import tax records, and duplicate-claim checks. Accepted matches are communicated as prescribed; discrepancies and duplications are notified to both parties. Unrectified discrepancies and excess credits due to duplication are added to the recipient's output tax liability, and interest accrues from the date credit was availed. If the supplier later declares the invoice within the prescribed period, the recipient's liability is reduced and interest refunded to the electronic cash ledger, limited to interest paid by the supplier. Act-Rules GST - States Thu, 22 Jun 2017 15:36:08 +0530 https://www.taxtmi.com/acts?id=26994