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Matching reversal and reclaim of reduction in output tax liability

Section 38 - RETURNS - Goods and Services Tax - Section 38 - 38. (1) The details of every credit note relating to outward supply furnished by a registered taxable person (hereinafter referred to in this section as the supplier ) for a tax period shall, in the manner and within the time prescribed, be matched- (a) with the corresponding reduction in the claim for input tax credit by the corresponding taxable person (hereinafter referred to in this section as the recipient ) in his valid return fo .....

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n in the claim for input tax credit or the corresponding credit note is not declared by the recipient in his valid returns, the discrepancy shall be communicated to both such persons in the manner as may be prescribed. (4) The duplication of claims for reduction in output tax liability shall be communicated to the supplier in the manner as may be prescribed. (5) The amount in respect of which any discrepancy is communicated under subsection (3) and which is not rectified by the recipient in his .....

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