- The Invoice Management System (IMS) will be introduced by GSTN on October 1, 2024
- IMS will help taxpayers manage and validate invoices for easier ITC claim process
- Recipients can accept, reject, or hold invoices for further action using IMS
- IMS will be available on the GST portal from October 1, 2024
- Recipients can take actions on invoices such as accept, reject, or pending
- Default action is “Deemed Accepted” if no action is taken by the recipient
- Amendments to invoices must be acted upon by the recipient
- PENDING invoices can be reviewed and acted upon in future months
- IMS features enhanced communication and a unified dashboard for better invoice handling
- IMS does not add any additional compliance burden for taxpayers.
Source: mastersindia.co
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
