29 Nov 2024

Invoice Management System (IMS): Streamlining ITC Claims Through Automated Invoice Processing

Starting from October 1st, 2024, taxpayers will have access to this new functionality on the GST portal – the Invoice Management System (IMS). The IMS is designed to simplify the Input Tax Credit (ITC) process by allowing recipient taxpayers to validate invoices issued by their suppliers, ensuring that only verified invoices become part of their form GSTR-2B.