+91-8512-022-044 help@finodha.in

Claim your TDS Refund before it EXPIRE in

Day(s)

:

Hour(s)

:

Minute(s)

:

Second(s)

ITR Filing Starts Only

GST Return Filing Starts Only

Rule 73. Matching of claim of reduction in the output tax liability .-

by | Aug 6, 2024 | GST | 0 comments

Consult an Expert: ITR Filing, GST Reg. & Pvt. Ltd. Registration

8 + 4 =

Important Keyword: section 43, FORM GSTR-1, section 37, section 38.

Omitted (w.e.f. 01.10.2022) vide Notification No. 19/2022 – CT dated 28.09.2022 for

GST Rule 73. Matching of claim of reduction in the output tax liability.-

The following details relating to the claim of reduction in output tax liability shall be matched under section 43 after the due date for furnishing the return in FORM GSTR-3 , namely:-

(a) Goods and Services Tax Identification Number of the supplier;

(b) Goods and Services Tax Identification Number of the recipient;

(c) credit note number;

(d) credit note date; and

(e) tax amount:

Provided that where the time limit for furnishing FORM GSTR-1 under section 37 and FORM GSTR-2 under section 38 has been extended, the date of matching of claim of reduction in the output tax liability shall be extended accordingly:

Provided further that the Commissioner may, on the recommendations of the Council, by order, extend the date of matching relating to claim of reduction in output tax liability to such date as may be specified therein.

Explanation– For the purposes of this rule, it is hereby declared that –

(i) the claim of reduction in output tax liability due to issuance of credit notes in FORM GSTR-1 that were accepted by the corresponding recipient in FORM GSTR-2 without amendment shall be treated as matched if the said recipient has furnished a valid return.

(ii) the claim of reduction in the output tax liability shall be considered as matched where the amount of output tax liability after taking into account the reduction claimed is equal to or more than the claim of input tax credit after taking into account the reduction admitted and discharged on such credit note by the corresponding recipient in his valid return.”

Read More: NOTIFICATION No. 11/2024-Central Tax: Seeks to amend Notification No. 02/2017-CT dated 19th June, 2017 to assign district of Kotputli-Behror to Central Goods and Services Tax Alwar Commissionerate

Web Stories: NOTIFICATION No. 11/2024-Central Tax: Seeks to amend Notification No. 02/2017-CT dated 19th June, 2017 to assign district of Kotputli-Behror to Central Goods and Services Tax Alwar Commissionerate

Official Income Tax Return filing website: https://incometaxindia.gov.in/