The Goods and Services Tax Network (GSTN) has released an Advisory regarding the Invoice Management System. This new communication procedure, called the Invoice Management System (IMS), is being introduced to help taxpayers efficiently handle invoice corrections and amendments with their suppliers through the portal.
This system will also assist taxpayers in matching their records and invoices with those issued by their suppliers to ensure accurate Input Tax Credit (ITC). It will enable recipient taxpayers to accept, reject, or keep invoices pending in the system for future processing.
This facility will be accessible to taxpayers on the GST portal starting from October 1st.
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