by Mr. R.SRIVATSAN, IRS, NACIN, Chennai
The Invoice Management System (IMS) has been made available on the GST Portal from 14th October, 2024 wherein the recipient taxpayer can accept, reject or keep the invoices pending which are saved/filed by their suppliers in their respective GSTR-1/1A/IFF.
The first GSTR-2B on the basis of such actions taken in IMS by the recipient taxpayers will be generated on 14th November, 2024 for October-2024 period.
To further facilitate the taxpayers, the Supplier View of IMS has also been made available where the action taken by the recipients of the supplier on the records/invoices reported in GSTR-1/1A/IFF, will be visible to the suppliers in ‘Supplier View’ functionality.
This will help a supplier taxpayer to see the action taken on their reported outwards supplies and will help to avoid any wrong action taken by the recipient taxpayer.
It is very important to note that the following records/invoices are not available in IMS for taking any kind of actions by the recipient but are visible in supplier view with the status as ‘No Action Taken’:
- Documents where ITC is not eligible either due to POS rule or restrictions due to Section 16(4) of the CGST Act, 2017,
- Records attracting RCM Supplies
Further, it is reiterated again that any action taken on records can be changed by the recipient taxpayer till the filing of GSTR-3B of the return period.
In case the taxpayer changes any action after the generation of GSTR-2B, they need to click the GSTR-2B recompute button to recompute their GSTR-2B based on the new actions taken.
Well……
It’s is absolutely important to avail credit for October 2024 returns based on careful verification of actual documents & records by manually editing GSTR3B. if necessary, instead of mechanically availing based auto population of credit, anticipating some glitches and errors in the early phase of implementing IMS.
It doesn’t make sense if one blindly attempts to utilise the optional IMS facility and ends up with errors in GSTR2B, due to novice usage of IMS or unknown system errors because irrespective of this entire scheme of IMS, which is an optional facility only, Section 16(2) is clearly operational to restrict credit based on GSTR-2B.
Also Read: GSTN Advisory on IMS on Supplier View
It is impossible to expect taxpayers across the country to foresee all possibilities even in the wildest imagination that might end up in litigation.
It is therefore suggested to take Extra (-ordinary) care with reconciled data especially while filing the return for the October 2024 tax period, which is quite critical !!!!
Share this content: