- Invoice Management System introduced on Government GST portal in India
- Expected to be mandatory by end of 2025
- Allows tax officers and taxpayers to view purchase registers, input credit registers, and tax compliances
- Recipients can accept, reject, or mark invoices as pending
- Credit notes can only be accepted or rejected
- Determines tax liability for suppliers and credit availability for recipients
- Overhauls accounts payable and receivable functions
- Provides real-time visibility to suppliers on recipient actions
Source: taxathand.com
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.
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