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Taxpayers can opt for Composition Scheme for the Financial Year 2024-25 by accessing the GST Portal, which will be open upto March 31, 2024.
Use Navigation ‘Services -> Registration -> Application to Opt for Composition Levy’, and file Form CMP-02.
Source: GSTN
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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 functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01B.
GSTN Downtime on 01.09.2024 for planned Disaster Recovery Drill.