Summary: The Invoice Management System (IMS) is a new feature introduced on the GST Common Portal to enhance invoice management for taxpayers. Available from October 14, IMS allows recipients to efficiently handle invoices by accepting, rejecting, or deferring them, simplifying the reconciliation process and improving GST compliance accuracy. Users can access IMS under Services > Returns > Invoice Management System after logging in. The IMS offers two main options: Inward Supplies and Outward Supplies. Inward Supplies lets taxpayers view and manage invoices reported by suppliers through GSTR-1/IFF/GSTR-1A, categorized into No Action, Accepted, Rejected, and Pending. Taxpayers can select multiple invoices for bulk actions and reset their choices if needed. For generating GSTR 2B, users must recompute after taking actions in IMS. The Outward Supplies option will allow taxpayers to view the status of their reported outward supplies based on recipients’ actions, with filtering and searching capabilities. Overall, IMS aims to streamline invoice interactions, making compliance more manageable for taxpayers.
The article contains the summarized information on IMS (INVOICE MANAGEMENT SYSTEMS), a new innovative feature introduced by GST Common Portal for the taxpayers.
IMS (INVOICE MANAGEMENT SYSTEMS) under GST
Q.1 What is IMS(Invoice Management System)?
Ans. Invoice Management System (IMS) is an innovative new feature of the GST Common Portal, which will enable recipient taxpayers to effectively interact with invoices, effortlessly manage invoices by accepting, rejecting, or deferring them for future use which will result in simplifying the reconciliation process and enhancing the accuracy and efficiency of GST compliance.
Q.2 When will the IMS facility be made available?
Ans. The IMS facility will be made available to taxpayers on the GST portal starting from 14th October.
Q.3 Where to find IMS on the GST Portal & how will it look?
Ans. After logging into the GST Portal, IMS can be found under Services > Returns > Invoice
Management System (IMS) option.
There will be two options under IMS :
I. Inward Supplies : to view and manage inward supplies reported by your supplier in GSTR-1/IFF/GSTR-1A.
II. Outward Supplies : to view the status of outward supplies reported based on actions taken by your recipient, which will be available soon.
Q.4 How to access the IMS facility for Inward Supplies?
The invoices saved or filed in GSTR-1/1A or IFF by the supplier and received in IMS can be seen categorized in different sections under Inward Supplies option.
The records will be further classified as No Action, Accepted, Rejected, Pending columns.
- No Action: Invoices on which no action has been taken by taxpayer.
- Accepted: Invoices accepted by the taxpayer.
- Rejected: Invoices rejected by the taxpayer.
- Pending: Invoices marked pending by taxpayer.
Taxpayers can select invoices in bulk and mark them as accepted, rejected, or pending, based on their preference.
Taxpayers are given the option of resetting all the actions taken and saved.
Q.5 How to generate GSTR 2B?
Ans. When a taxpayer takes any actions using the IMS facility, they will need to recompute GSTR 2B before filing of GSTR 3B. This feature will be enabled after the generation of GSTR 2B on the 14th of the following month.
Q.6 What is the IMS facility for outward Supplies?
Ans. Outward Supplies option will enable the taxpayer to view the status of outward supplies reported based on action taken by your recipient. These can be seen under different categories. Also, the option of Filter & Search is available for taxpayers.
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