Quick Summary
Invoice Management System (IMS) is made available to taxpayers from 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 14 November 2024 considering action taken on the Invoice Management System.
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FAQ :
The Invoice Management System (IMS) is a new tool launched by GSTN to help taxpayers match their records with invoices issued by their suppliers, facilitating accurate Input Tax Credit (ITC) claims.
The IMS was made available to taxpayers from 14th October 2024.
IMS allows taxpayers to take action on invoices reflecting in the system, helping them match their records with supplier invoices to ensure they are claiming the correct Input Tax Credit (ITC).
The first GSTR-2B considering actions taken on the IMS will be generated for the October 2024 return period on 14th November 2024.
No, it is not mandatory to take action on invoices in the IMS dashboard for the generation of GSTR-2B.
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