Section 29 – Draft-Bills-Reports – RETURNS – MODEL GST LAW – GOODS AND SERVICES TAX ACT, 2016 – Draft June 2016 – Section 29 – 29. Matching, reversal and reclaim of input tax credit (1) The details of every inward supply furnished by a taxable person (hereinafter referred to in this section as the recipient ) for a tax period shall, in the manner and within the time prescribed, be matched- (a) with the corresponding details of outward supply furnished by the corresponding taxable person (hereinafter referred to in this section as the supplier ) in his valid return for the same tax period or any preceding tax period, (b) with the additional duty of customs paid under section 3 of the Customs Tariff Act, 1975 (51 of 1975) in respect of goods
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may be prescribed. (4) The duplication of claims of input tax credit shall be communicated to the recipient in the manner as may be prescribed. (5) The amount in respect of which any discrepancy is communicated under sub-section (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 the recipient, in the manner as may be prescribed, in his return for the month succeeding the month in which the discrepancy is communicated. (6) The amount claimed as input tax credit that is found to be in excess on account of duplication of claims shall be added to the output tax liability of the recipient in his return for the month in which the dupli
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