The Goods and Service Tax Network (GSTN) on October 17, 2024, issued a notification regarding the Additional FAQs on IMS.
The Invoice Management System (IMS) is now available for taxpayers, offering a streamlined process for reconciling their invoices with those issued by suppliers to ensure accurate Input Tax Credit (ITC) claims. With this system, taxpayers can easily accept, reject, or mark invoices as pending for future action. The first GSTR-2B based on actions taken in the IMS will be generated for the October 2024 return period on November 14, 2024. For more details on the new IMS functionality, you can access a list of frequently asked questions (FAQs) by clicking here.
