https://www.taxtmi.com/acts?id=28212 Credit notes must be matched to recipients' reductions in input tax credit; matched claims are accepted. If a supplier's reduction exceeds the recipient's corresponding reduction or the recipient fails to declare the credit note, the discrepancy is communicated and, if not rectified in the prescribed period, added to the supplier's output tax liability in the next month's return. Duplication of reduction claims is communicated and duplicated amounts are added in the month of communication. Added amounts attract interest from the date of the original claim; subsequent recipient declaration within the specified time allows the supplier to reverse the addition and obtain an interest refund credited to the electronic cash ledger, subject to the recipient's paid interest cap. en-us Wed, 28 Jun 2017 12:23:18 +0530 Mon, 10 Jul 2017 12:16:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=28212 Credit notes must be matched to recipients' reductions in input tax credit; matched claims are accepted. If a supplier's reduction exceeds the recipient's corresponding reduction or the recipient fails to declare the credit note, the discrepancy is communicated and, if not rectified in the prescribed period, added to the supplier's output tax liability in the next month's return. Duplication of reduction claims is communicated and duplicated amounts are added in the month of communication. Added amounts attract interest from the date of the original claim; subsequent recipient declaration within the specified time allows the supplier to reverse the addition and obtain an interest refund credited to the electronic cash ledger, subject to the recipient's paid interest cap. Act-Rules GST - States Wed, 28 Jun 2017 12:23:18 +0530 https://www.taxtmi.com/acts?id=28212