The IMS is a new installation introduced on the GST gate( functional since late 2024) that allows a philanthropist taxpayer to accept, reject, or keep pending any tab, disbenefit note, or credit note filed or saved by their supplier in the GSTR- 1, GSTR- 1A, or IFF( tab Furnishing Facility).
Its primary ideal is to streamline the conciliation of Input Tax Credit( ITC) and reduce disagreement before the GSTR- 3B is filed.
The IMS Workflow for Donors( Buyers)
Supplier Action A supplier saves or files an outside force record( tab, CN, DN) in their GSTR- 1/ IFF.
IMS Reflection The record incontinently appears on the philanthropist’s IMS Dashboard on the GST gate.
Philanthropist Action The philanthropist reviews the document and can take one of three primary conduct
Accept Confirms the tab details are correct. The tab is included in the GSTR- 2B for ITC claim.
Reject distinction set up( e.g., wrong quantum, wrong GSTIN). The tab is barred from the GSTR- 2B.
Pending Requires farther verification or resolution with the supplier. The tab is barred from the current GSTR- 2B but carried forward to the coming period.
Features and Benefits of the IMS
- Enhanced ITC Control and Accuracy
Only Accepted Documents Flow to GSTR- 2B Unlike the old GSTR- 2A/ 2B system, only checks that the philanthropist explicitly Accepts( or those that are Deemed Accepted) will be included in the bus- peopled GSTR- 2B for claiming ITC. This preventsover-claiming grounded on incorrect supplier data.
Pre-Filing Reconciliation It allows for conciliation and disagreement resolution before the GSTR- 3B deadline, significantly reducing the need for latterly ITC reversals and the threat of entering Show Beget Notices( SCNs) for mismatches.
- Deemed Acceptance
Automatic Acceptance If the philanthropist takes no action on an tab by the deadline for filing GSTR- 3B, the system treats it as Deemed Accepted and includes it in the GSTR- 2B. This point ensures that the compliance burden is n’t increased for businesses with high volumes of accurate checks.
- Improved Communication
reflections for Rejection/ Pending Donors can voluntarily add reflections when rejecting or marking an tab as pending. These reflections are reflected in the philanthropist’s GSTR- 2B and, more importantly, in the supplier’s dashboard. This facilitates hastily communication and correction of crimes.
Supplier View Suppliers can view the conduct taken by the philanthropist on the outside inventories they reported, allowing them to proactively make necessary emendations in their posterior GSTR- 1 forms.
- Handling emendations
Real- Time Updates If a supplier amends a saved tab in their GSTR- 1 before form, the amended tab replaces the original in the philanthropist’s IMS dashboard, and the philanthropist must act on the streamlined tab.
- Bulk Action and Downloads
The system allows taxpayers with large sale volumes to take bulk conduct( Accept/ Reject/ Pending) on multiple checks at formerly and download the data in Excel for lightly offline inspection and review.
🎯 Impact on Taxpayers( Especially Daily Filers)
For Yearly Filers The IMS provides a significant advantage by simplifying the yearly conciliation process and perfecting cash inflow due to more accurate ITC claims.
For Daily Filers( QRMP) The IMS dashboard will reflect checks for all three months of the quarter. While this helps with conciliation, the GSTR- 2B for QRMP taxpayers is generated daily. This means daily filers must diligently use the IMS dashboard throughout the quarter to get a clear picture of their eligible ITC, as they do n’t get a GSTR- 2B for the first two months.
The IMS marks a shift towards document- position verification and enhanced translucency, making it a critical tool for all businesses under the GST governance.
Leave a Reply