https://www.taxtmi.com/acts?id=29621 Section 43 requires matching of supplier credit notes with recipients' reductions in input tax credit and checks for duplication. Matched reductions are accepted; discrepancies or undeclared credit notes are communicated and, if not rectified, added to the supplier's output tax liability in the subsequent return. Duplicative reductions are added in the month communicated. Suppliers may reclaim additions if the recipient declares the credit note within the time under section 39(9). Interest applies on added amounts per section 50, and refunded interest is limited to the interest actually paid by the recipient. en-us Tue, 04 Jul 2017 18:40:29 +0530 Wed, 16 Aug 2017 14:51:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=29621 Section 43 requires matching of supplier credit notes with recipients' reductions in input tax credit and checks for duplication. Matched reductions are accepted; discrepancies or undeclared credit notes are communicated and, if not rectified, added to the supplier's output tax liability in the subsequent return. Duplicative reductions are added in the month communicated. Suppliers may reclaim additions if the recipient declares the credit note within the time under section 39(9). Interest applies on added amounts per section 50, and refunded interest is limited to the interest actually paid by the recipient. Act-Rules GST - States Tue, 04 Jul 2017 18:40:29 +0530 https://www.taxtmi.com/acts?id=29621