The GSTN officially confirmed the launch of this feature through an advisory issued on September 3, 2024. The IMS will be available to taxpayers starting October 1, 2024

The Goods and Services Tax Network ( GSTN ) has introduced a new feature called the Invoice Management System ( IMS ) in the GST portal, which simplifies the process of correcting invoices and making accurate Input Tax Credit ( ITC ) claims. The GSTN officially confirmed the launch of this feature through an advisory issued on September 3, 2024. The IMS will be available to taxpayers starting October 1, 2024. The GSTN advisory states as follows: “To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) is being brought up at portal. This will also facilitate taxpayer in matching of their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC) and shall allow the recipient taxpayers to either accept or reject an invoice or to keep it pending in the system, which can be availed later.” Get a Copy of GST Appeals & Appellate Procedures, Click here With the IMS, taxpayers can review each invoice before including it in their ITC claims, ensuring that all details are accurate. This careful review process helps to avoid potential issues during audits, giving taxpayers greater confidence in their tax filings. Taxpayers have the flexibility to take action on invoices at any time before filing their GSTR-3B return. If any invoices are pending, they can be addressed in future tax periods without any hassle. Get a Copy of GST Appeals & Appellate Procedures, Click here For those enrolled in the Quarterly Return Monthly Payment ( QRMP ) scheme, the IMS will seamlessly integrate with their existing processes. The system will generate GSTR-2B on a quarterly basis, in line with their filing schedule, making it easier to manage invoices and ITC claims