The Goods and Service Tax Network (GSTN) on September 03, 2024, issued a notification regarding the Invoice Management System.
A new communication process called the Invoice Management System (IMS) is being introduced on the GST portal to help taxpayers efficiently manage invoice corrections and amendments with their suppliers. This system will also assist taxpayers in matching their records with invoices issued by their suppliers to ensure accurate Input Tax Credit (ITC) claims. It will allow recipient taxpayers to accept, reject, or keep an invoice pending for later review. This facility will be available on the GST portal starting from October 1. For more details, please click here to read the full advisory on IMS.
