Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Sec. 42. 43

Vijay Baraiya (Advocate) (271 Points)

22 April 2018

hello..
can anyone tell me where section 42 and 43 will be used ?
practically can you list some issues ..
thanks

Reply
Follow
Share

2 Replies

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 22 April 2018

https://www.google.co.in/url?sa=t&source=web&rct=j&url=https://studycafe.in/2017/10/section-43-cgst-act-2017-matching-reversal-reclaim-reduction-output-tax-liability.H T M L&ved=2ahUKEwijxuW35s3aAhUT4o8KHWbwC2QQFjAMegQIBRAB&usg=AOvVaw2ro4F9iAeawuUxAUy6z1-J

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 22 April 2018

In short

section 42 deales with recepient taken input is match with supplier output, if not the both are intimated by the govt. to do rectified , or recejpent has to reverse the & add to his ouput liability

Section 43 deales in supplier output by credit note issued to receipient, if not match the supplier has to reverse the same by inreasing his ouput

1 Like