India's GSTN introduces Invoice Management System (IMS) on Oct 1 for enhanced Input Tax Credit operations.

Starting October 1, India's Goods and Services Tax Network (GSTN) will implement an Invoice Management System (IMS) to enhance Input Tax Credit (ITC) operations. This system allows taxpayers to accept, reject, or hold invoices before they are finalized in their GSTR-2B statements. IMS aims to improve invoice matching and corrections, providing a transparent, efficient way to manage tax records and facilitating better communication with suppliers.

September 03, 2024
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