The Invoice Management System (IMS) is a newly introduced feature by the GSTN to streamline the  management of invoices between suppliers and recipients. This system allows for better tracking,  matching, and processing of invoices, ensuring accurate Input Tax Credit (ITC) claims.  

Key Features Of IMS:  

1. Effective Invoice Tracking:  

 IMS allows taxpayers to accept, reject, or keep invoices pending.  

 Once a supplier uploads an invoice in GSTR-1/IFF/1A, it reflects on the recipient’s IMS  dashboard for action.  

2. Invoice Actions:  

 Accept: Accepted invoices are included in the recipient’s GSTR-2B and can be used for ITC  in GSTR-3B.  

 Reject: Rejected invoices are excluded from GSTR-2B, making them ineligible for ITC  claims.  

 Pending: Pending invoices stay in the dashboard for future action but are not included in  GSTR-2B or GSTR-3B.  

3. Deemed Acceptance:  

 If no action is taken on an invoice by the time GSTR-2B is generated (on the 14th of the  month), it will be deemed accepted and automatically included in GSTR-2B.  

Impact On GSTR-2B:  

 Accepted invoices directly appear in the “ITC Available” section of GSTR-2B.  

 Rejected invoices are excluded from GSTR-2B and cannot be claimed for ITC.  

 Pending invoices remain in the IMS dashboard and do not show up in GSTR-2B until an  action is taken.  

 Deemed acceptance applies if no action is taken before the generation of GSTR-2B.  

Important Dates & Best Practices:  

 IMS Availability: From October 1, 2024.  

 Taxpayers should regularly monitor their IMS dashboard to take timely action on  invoices.  

 Recompute GSTR-2B: If actions on invoices are taken after the 14th of the month, GSTR 2B must be recomputed.  

Why IMS Is Important:  

 It helps recipients prevent errors in ITC claims.  

 Offers a clear method to track invoice status and ensures ITC claims match the actual  invoices received  

Disclaimer: 

The Information provided in this Document does not, and is not intended to, constitute legal advice; instead,  all information, content, and materials available in this document are for general informational purposes  only, prepared based on relevant tax provisions and information available on the period of preparation.