Matching, reversal and reclaim of input tax credit

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..... 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 integrated goods and services tax paid under section 3 of the Customs Tariff Act, 1975 in respect of goods import .....

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..... ay 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 subsection (3) and which is not rectified by the supplier in his valid return for the month in which discrepancy is communicated shall be added to the output tax liability of th .....

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..... 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-section (7), the interest paid under sub-section (8) shall be refunded to the recipient by crediting the amount in the corresponding head of h .....

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