GSTN Advisory on IMS: Action on Invoices Not Mandatory for GSTR-2B Generation

By: Admin
October 14, 2024
Categories: GST Portal Updates | Important News
4 Min Read

The Goods and Services Tax Network (GSTN) has issued an Important Advisory No. 532 on October 14, 2024, announcing the launch of the Invoice Management System (IMS) to help taxpayers match their invoices with those issued by their suppliers, ensuring accurate Input Tax Credit (ITC) claims.

Although the IMS facility, available starting from October 14, 2024, allows taxpayers to take action on their invoices, it is not mandatory for the generation of GSTR-2B. The first GSTR-2B using the IMS will be generated on November 14, 2024, for October’s returns. Taxpayers are encouraged to utilize the system but are not required to take action on invoices for the GSTR-2B generation process.

This advisory clarifies that while the IMS can enhance accuracy in ITC claims, it remains an optional tool for compliance.

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