Advisory regarding IMS during initial phase of its implementation
12/11/2024
Invoice Management System (IMS)
is an optional facility introduced from October 2024 on GST Portal, on which the
invoices/records saved/furnished by the supplier in
GSTR-1/1A/IFF, can be
accepted, rejected or kept pending by recipients .Based on the action taken by
the recipient on the IMS, system will generate the
GSTR 2B of the recipient on
14th of subsequent month.
The Taxpayer can accept/reject/keep pending the invoice/record on IMS after due
verification from his accounts. The ITC for the rejected record will not be
available to the recipient in the GSTR 2B . Further, the liability and input tax
credit is being auto -populated in GSTR 3B of the taxpayer on the portal based
on his liability declared in GSTR 1/1A and input tax credit made available in
his GSTR 2B. However, the taxpayer can presently edit the said auto-populated
details in GSTR 3B before filing the same.
IMS, being a new functionality introduced on the portal, there may be cases
where in the initial phase of implementation of IMS, the recipient may make
error/mistake while taking action (like acceptance/rejection/keeping pending) on
the IMS in respect of an invoice/record. As GSTR-2B of the recipient will be
generated on the portal based on the actions taken by the recipient on the IMS,
any mistake in the action taken by the recipient on the IMS could result in
incorrect details of available/eligible input tax credit to the recipient being
shown in his GSTR-2B, which will also be auto-populated in his
GSTR-3B on the
portal. In such cases, the recipient can change the action on the IMS in respect
of an invoice/record ( e.g. from rejected to accepted or vice versa) and can
recompute his GSTR-2B at any time till the filing of
GSTR-3B for the
corresponding tax period, so that correct ITC is auto-populated in his
GSTR-3B.
Despite this, there may still be some cases, where the recipient is not able to
correct the action taken on the IMS, resulting in wrong auto-population of ITC
in GSTR-3B of the recipient or wrong auto-population of liability in
GSTR-3B of
the corresponding supplier. Therefore, during this initial phase of
implementation of IMS, the taxpayers are advised that in such cases, where due
to any inadvertent mistake in the action taken on the IMS, if incorrect details
of ITC/ liability are auto-populated in GSTR-3B on the portal, the taxpayer may
before filing their GSTR-3B return, edit such wrongly populated ITC/liability in
their GSTR-3B, to correctly avail ITC or pay correct tax liability based on the
factual position as per the documents/records available with him.
Thanking You,
Team GSTN
Refer:- Portal related updates Dated 03.09.2024
Refer:- Portal related updates Dated 17.09.2024
Refer:- Portal related updates Dated 22.09.2024
Refer:- Portal related updates Dated 14.10.2024
Refer:- Portal related updates Dated 17.10.2024