TMI BlogOmittedX X X X Extracts X X X X X X X X Extracts X X X X ..... r in this section referred to as the recipient ) for a tax period shall, in such manner and within such time as may be prescribed, be matched (a) with the corresponding details of outward supply furnished by the corresponding registered person (hereafter in this section referred to as the supplier ) in his valid return for the same tax period or any preceding tax period; (b) with the int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply is not declared by the supplier in his valid returns, the discrepancy shall be communicated to both such persons in such manner as may be prescribed. (4) The duplication of claims of input tax credit shall be communicated to the recipient in such manner as may be prescribed. (5) The amount in respect of which any discrepancy is communicated under sub-section (3) and which is not rectifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pient in whose output tax liability any amount has been added under sub-section (5) or sub-section (6), shall be liable to pay interest at the rate specified under sub-section (1) of section 50 on the amount so added from the date of availing of credit till the corresponding additions are made under the said sub-sections. (9) Where any reduction in output tax liability is accepted under sub-sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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