Quick Summary
The body of tax professionals has called on the government to make the recently introduced Invoice Management System (IMS) on the Goods and Services Tax (GST) portal more user-friendly. They have suggested incorporating features to add and modify invoices before final submission, a move that could significantly reduce errors and minimise the issuance of notices. Launched in November 2024, the IMS currently allows recipient taxpayers to accept, reject, or mark invoices as pending, based on the d
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FAQ :
Tax professionals are concerned that the current GST Invoice Management System (IMS) lacks the ability for taxpayers to modify or add invoices before final submission, unlike the previous GSTR-2 form.
They are suggesting the incorporation of features that allow taxpayers to add and modify invoices before final submission.
The ability to modify invoices is important to reduce errors, minimise the issuance of notices, and prevent delays caused by dependency on suppliers for corrections.
Approximately 10% of all notices issued by the GST department are related to input tax credit (ITC) discrepancies, highlighting the need for a more robust system.
The current GST Invoice Management System (IMS) was launched in November 2024.
Currently, taxpayers can only accept, reject, or mark invoices as pending within the IMS.
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