https://www.taxtmi.com/acts?id=28211 Section 42 establishes matching of recipients' inward-supply details with suppliers' outward returns and import tax to accept valid input tax credit. Discrepancies where recipient claims exceed supplier-declared tax or where outward supplies are undeclared are communicated to both parties; unrectified amounts and duplicate claims are added to the recipient's output tax liability. The recipient may reduce that addition if the supplier later files required invoice details within the prescribed time; interest is charged on added amounts from the date credit was availed, and interest refunds are capped by supplier-paid interest. en-us Wed, 28 Jun 2017 12:23:06 +0530 Mon, 10 Jul 2017 12:14:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=28211 Section 42 establishes matching of recipients' inward-supply details with suppliers' outward returns and import tax to accept valid input tax credit. Discrepancies where recipient claims exceed supplier-declared tax or where outward supplies are undeclared are communicated to both parties; unrectified amounts and duplicate claims are added to the recipient's output tax liability. The recipient may reduce that addition if the supplier later files required invoice details within the prescribed time; interest is charged on added amounts from the date credit was availed, and interest refunds are capped by supplier-paid interest. Act-Rules GST - States Wed, 28 Jun 2017 12:23:06 +0530 https://www.taxtmi.com/acts?id=28211