The Invoice Management System (IMS) is now active and ready to help you manage your invoices more efficiently while ensuring accurate claims for Input Tax Credit (ITC). This system enables you to cross-check invoices provided by your suppliers with your own records, minimizing the risk of errors in ITC claims.
Through the IMS, taxpayers can:
- Accept invoices for immediate ITC claims,
- Reject invoices that do not match their records, and
- Keep invoices pending for further review or later ITC claims.
The first GSTR-2B, based on actions taken within the IMS, will be generated for the October 2024 return period and made available on 14th November 2024.
For a deeper understanding of how to effectively use IMS and leverage its features, we recommend reviewing our Additional FAQs on IMS, which provide detailed explanations of its functionality and best practices.
Please Click here to Access the additional FAQ issued on 17.10.2024
Thanking You
Team GSTIN
