The Goods and Services Tax Network (GSTN) has introduced the Invoice Management System (IMS) for taxpayers, effective from 14th October 2024. The new system enables taxpayers to match their invoices with those issued by suppliers, ensuring they claim the correct Input Tax Credit (ITC). Taxpayers can now take necessary actions on the invoices displayed on the IMS dashboard from this date. The first GSTR-2B generated through IMS will be available for the return period of October 2024, on 14th November 2024. It is important to note that using the IMS dashboard for taking action on invoices is not mandatory for the GSTR-2B generation. This tool aims to simplify the reconciliation of records and assist taxpayers in accurate ITC claims.
Goods and Services Tax
Government of India, States and Union Territories
Attention – Advisory on IMS
Oct 14th, 2024
Invoice Management System (IMS) is made available to taxpayers from Today, 14th Oct, 2024. The new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC). Taxpayers can make use of this system to take action on the invoices reflecting on IMS from 14th Oct, 2024. The first GSTR-2B would be generated for the return period Oct’24 on 14thNovember, 2024 considering action taken on Invoice Management System. It may be noted that it is not mandatory to take action on invoices in IMS dashboard for GSTR-2B generation.
Thanking You,
Team GSTN
