The GSTN is claiming that as part of continuous improvement in the GST Ecosystem, Invoice Management System (IMS) will be introduced as a revolutionary step towards the way businesses manage their invoices, avail tax credits, streamlining the reconciliations and overhaul the existing process for greater accuracy and efficiency. The following are the most relevant FAQs in relation to proposed IMS facility:
1. What is Invoice Management System (IMS)?
IMS is a facility which shall be provided on GST portal w.e.f. 14 October 2024 (i.e. for September 2024 return onwards). In this facility, the recipient shall be provided with an option to review the input tax credit invoices to either accept, reject or keep it pending for later acceptance or rejection and claim the input tax credit accordingly in the Form GSTR 3B.
2. Where to find Invoice Management System (IMS) facility on GST portal?
After login to GST portal, click on Services > Returns > Invoice Management System option.
3. Whether the supplier will also be able to see the ‘Rejected invoices’?
Yes. A dashboard for outward supplies shall be available shortly to view the status of outward supplies reported based on action taken by your recipient. The supplier can accordingly plan any action basis the action taken by the recipient.
4. What if No action has been taken by the Recipient on IMS facility?
In that case, the GST portal will consider deemed accepted all the invoices/credit notes/debit notes and generate the GSTR 2B accordingly.
5. What shall be process of IMS facility for Inward Supplies (For Recipient)?
A. Open IMS Dashboard
-
- Reflects no. of records with
- No actions taken
- Accepted
- Rejected
- Pending
B. IMS data can be downloaded in Excel File
-
- Helpful for quick analysis
- However, facility for uploading of excel is NOT PROVIDED yet.
C. Actions to be taken
-
- By clicking A, R or P, transactions may be accepted, rejected or kept pending for next period
- This exercise shall be done on GST portal in Bulk or Individual transaction level
D. Save data and re-compute GSTR 2B
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- After clicking on Save button, the data shall be processed by the GST portal.
- Based on this, an updated Form GSTR 2B report can be generated by re-compute GSTR 2B button.
6. What shall be process of IMS facility for Outward Supplies (For Supplier)?
The taxpayer can view the different categories of supplies (B2B) and the number of records can be viewed by clicking on the Hyperlink.
Also, there are options to filter for GSTIN specific transaction.
The Supplier shall be able to view the transactions and the response by the recipient and take the actions accordingly in its next month Form GSTR 1 or amend the data by filing Form GSTR 1A.
7. Whether any offline Facility has been provided to Accepting, Rejecting or Pending status updation on GST portal?
No such facility has been proposed till now and no such proposal is covered in the Manual on IMS issued by GSTN. For effective implementation of this new facility, an offline tool or utility should be provided as available for E-invoicing.
Source: Manual on IMS by GSTN.
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