GSTN Issues Advisory on Supplier View in Invoice Management System (IMS)

Date: November 14, 2024

GSTN Introduces Invoice Management System (IMS) to Simplify Tax Compliance

The Goods and Services Tax Network (GSTN) has introduced a new Invoice Management System (IMS) on the GST portal, active since October 14, 2024. This latest development aims to streamline the process of managing invoices between suppliers and recipients. Through IMS, recipient taxpayers now have the ability to accept, reject, or keep invoices pending. This action applies to invoices saved or filed by suppliers in their respective GSTR-1, GSTR-1A, or Invoice Furnishing Facility (IFF).

In alignment with this, GSTN will issue the first GSTR-2B report based on actions taken by recipient taxpayers within the IMS system, available from November 14, 2024 for transactions from October 2024. This move enhances transparency, allowing taxpayers to better manage and validate their invoices, aiding in smoother tax compliance.

For more details and continuous updates, visit the official GST portal.