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Matching, reversal and reclaim of reduction in output tax liability.

Section 43 - Uttar Pradesh SGST - RETURNS - Uttar Pradesh Goods and Services Tax Act, 2017 - Section 43 - 43. (1) The details of every credit note relating to outward supply furnished by a registered person (hereafter in this section referred to as t .....

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red to as the recipient ) in his valid return for the same tax period or any subsequent tax period; and (b) for duplication of claims for reduction in output tax liability. (2) The claim for reduction in output tax liability by the supplier that matc .....

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tward supplies exceeds the corresponding reduction 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 such manner as .....

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and which is not rectified by the recipient in his valid return for the month in which discrepancy is communicated shall be added to the output tax liability of the supplier, in such manner, as may be prescribed, in his return for the month succeedi .....

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for the month in which such duplication is communicated. (7) The supplier shall be eligible to reduce, from his output tax liability, the amount added under sub-section (5) if the recipient declares the details of the credit note in his valid return .....

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of section 50 in respect of the amount so added from the date of such claim for reduction in the output tax liability till the corresponding additions are made under the said sub-sections. (9) Where any reduction in output tax liability is accepted u .....

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