New IMS System of GST is Live on GST portal to take actions on invoices – Accept, Reject and Pending

Attention – Advisory on Invoice Management System (IMS)

Date: October 14th, 2024

The Invoice Management System (IMS) has been made available to taxpayers starting from October 14th, 2024. This new system aims to assist taxpayers in matching their records/invoices against those issued by their suppliers, enabling them to avail the correct Input Tax Credit (ITC).

Key Highlights:

1. Launch Date: IMS is available to taxpayers from October 14th, 2024.
2. Invoice Matching: The system facilitates the matching of invoices for accurate ITC claims.
3. Action on Invoices: Taxpayers can take action on invoices reflecting in the IMS from the launch date to ensure the correctness of their ITC claims.
4. GSTR-2B Generation: The first GSTR-2B will be generated for the return period of October 2024 on November 14th, 2024, based on the actions taken in IMS.
5. Optional Usage: It is not mandatory to take action on invoices through the IMS dashboard for the GSTR-2B generation. However, utilizing IMS will help streamline ITC claims.

Taxpayers are encouraged to use the new system to ensure accurate tax filings and avoid discrepancies in their ITC claims.

Thanking You,
Team GSTN

For further details or assistance, please visit the GST portal or contact the helpdesk. Click Here to read full IMS advisory

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