Karnataka State Chartered Accountants Association (R) writes to Smt. Nirmala Sitharaman, Hon. Union Minister of Finance and Chairperson of GST Council, Government of India on 28th July 2025 vide their letter bearing Ref No: 21/2024-25.
GSTN issued advisory on how to handle inadvertently rejected records on IMS
The new invoice management system under the GST regime, designed to eliminate unbilled transactions across the country, has been met with widespread criticism from taxpayers and industry experts alike.
In a major relief to goods and services tax (GST) payers, the government is likely to amend Central GST (CGST) Rules, allowing recipients of goods and services up to two months to accept or reject a credit note and adjust the input tax credit (ITC) taken.
The invoice management system or IMS was introduced last October by the Goods and Services Tax Network (GSTN), the company that processes tax returns. It seeks to resolve the issue of businesses not getting tax credits because of either the seller not uploading the invoice in the GST portal or entering wrong details.
In light of the extended due dates for filing GSTR-1 and GSTR-3B returns for the month of December 2024 (Quarter Oct-Dec 2024) as per Notifications No. 01/2025 and 02/2025 dated 10th January 2025, the Draft GSTR-2B for the month of December 2024 (Quarter Oct-Dec 2024) will now be generated on 16th January 2025 in accordance with the rule 60 of CGST Rules, 2017.
The Goods and Services (GST) Act is likely to amend to incorporate the Invoice Management System (IMS) into the legal framework. Sources told Moneycontrol that the amendment aims to address revenue losses caused by fake invoicing and to eliminate tax evasion.
The GST Council, in its upcoming meeting on December 21, is set to deliberate on and is likely to approve rules for the implementation of the Invoice Management System (IMS). It is expected to address fake invoicing and tax evasion under the GST framework, sources in the Council said.
GST framework in India has undergone several changes since its inception in 2017. One of the most significant updates is the introduction of the Invoice Management System (IMS) by the GSTN, launched in October 2024. This new system aims to enhance the accuracy and transparency of invoices, making it easier for businesses to claim Input Tax Credit (ITC) while improving overall compliance with GST regulations.
It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November, 2024. In this regard it to be informed that as per the design of IMS, GSTR-2B will not be generated by the system in below scenarios:
