https://www.taxtmi.com/acts?id=30032 Matching of credit notes requires a supplier's reduction in output tax to be verified against the recipient's corresponding reduction in input tax credit; matched reductions are accepted and communicated. Discrepancies where the supplier's reduction exceeds the recipient's declared reduction, or where the recipient fails to declare the credit note, are communicated and the unrectified amounts are added to the supplier's output tax liability. Duplication of claims is communicated and duplicated amounts are added back. Interest is payable on amounts so added until they are rectified; subsequent valid recipient declaration permits reduction of added amounts and refund of interest to the supplier, subject to limits. en-us Sat, 08 Jul 2017 11:45:38 +0530 Sat, 29 Jul 2017 16:47:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30032 Matching of credit notes requires a supplier's reduction in output tax to be verified against the recipient's corresponding reduction in input tax credit; matched reductions are accepted and communicated. Discrepancies where the supplier's reduction exceeds the recipient's declared reduction, or where the recipient fails to declare the credit note, are communicated and the unrectified amounts are added to the supplier's output tax liability. Duplication of claims is communicated and duplicated amounts are added back. Interest is payable on amounts so added until they are rectified; subsequent valid recipient declaration permits reduction of added amounts and refund of interest to the supplier, subject to limits. Act-Rules GST - States Sat, 08 Jul 2017 11:45:38 +0530 https://www.taxtmi.com/acts?id=30032