GST Portal to Introduce Invoice Management System (IMS) from 1st October
Invoice Management System (IMS) facility shall be available to the taxpayer from 1st October onwards on the GST portal
Invoice Management System (IMS) which will allow the recipient taxpayers to either accept or reject an invoice or to keep it pending in the system, which can be availed later.
The said functionality would be a major enhancement in the ITC ecosystem of GST. Now, only the accepted invoices by the recipients would become part of their GSTR-2B as their eligible ITC.
At the time of GSTR 2B generation, a record will be considered as ‘Deemed Accepted’ if no action is taken on that record in IMS
System will generate GSTR 2B of a return period only if GSTR 3B of previous return period is filed.
