1 Which invoices are visible on the IMS dashboard since October 14, 2024? IMS is launched from the GSTR-2B return period of October 24. Therefore, all GSTR2B eligible records from October 24 return period will be available on the IMS dashboard. All invoices that are part of GSTR-2B from September 24 or earlier return periods will not be reflected in IMS. 2 What is the first GSTR2B prepared from the actions undertaken on IMS? The first draft of GSTR-2B based on the actions taken on invoices/records in the invoice management system dashboard would be generated and made available to all taxpayers on November 14, 2024 for the return period of October 24. 3 Can the taxpayer act after November 14, 2024 and regenerate GSTR-2B of October 2024 reporting period? The taxpayer can act on the invoices/records in their IMS dashboard and recalculate their GSTR-2B reporting period from October 24 even after November 14, 2024 till the time the taxpayer files their GSTR-3B. 4 Is it obligatory to act on IMS? What happens if no action is taken? It is not mandatory to act on IMS dashboard records for GSTR2B generation. Records for which no action is taken by the recipient would be treated as accepted by the system and a GSTR-2B would be generated as it is generated currently. 5 When should an invoice/debit note be rejected? Rejecting an invoice/debit note should be done with great caution as rejection will not result in any ITC for the recipient.

A record may be rejected if it is not relevant to the recipient or if the details of the record are so wrong that the CN and DN cannot handle the situation.

6 Since the deadline to benefit from the CCI is up to 30 hours.^th November for FY 2023-24 or furnishing annual return whichever is earlier, how can the ITC of an invoice rejected erroneously in IMS be taken by the assessee in FY 2023-24? In case the receiving taxpayer mistakenly rejects an invoice in IMS, the same invoice can be accepted again in IMS before filing of GSTR-3B.

After accepting the said invoice, the receiving taxpayer has to recalculate the updated GSTR-2B to avail the credit in GSTR 3B for the financial year 2023-24.

7 How can the recipient accept a genuine credit note issued by the supplier in IMS, as this will result in further reduction of the recipient’s ITC, but the recipient has canceled the ITC corresponding to the invoice itself due to section 17(5), rules 42, 38, 43, etc., or you have not benefited from the ITC at all due to the SOP or section 16(4), etc., of the ineligibility? In such cases, the recipient can accept the said credit note in IMS. Since the recipient has already canceled the ITC, there is no need to cancel the ITC again in case of such a credit memo. 8 What action should be available on upwardly amended invoices/debit notes, when the upwardly amended invoice/debit notes is posted by the supplier and is not filed? The recipient will not be able to act on an upwardly amended invoice/debit note, if the said amended record has only been recorded by the supplier in GSTR-1/GSTR-1A/IFF but the same record has not been archived .

The recipient will be able to take action once the supplier has submitted this file.

9 What if a false invoice is corrected by issuing a credit note by the supplier instead of amending it and this credit note has been rejected by the recipient? Without a link between the credit note and the corresponding invoices, the system cannot understand whether the original invoice for this credit note was accepted or rejected.

Therefore, if the invoice is not correct, it is advisable to rectify the error by amending the invoices in GSTR 1 instead of issuing a credit note.

10 Can the credit note be kept as pending in IMS? If not, why? The credit note cannot be kept pending in the IMS by the recipient because the supplier has reduced its tax liability at the time of issuing the credit note.

IMS does not change the existing flow where the documents/records declared by the supplier in GSTR 1 are accepted and the corresponding impact is reflected in GSTR 2B. Now, thanks to IMS, an additional option has been given to the recipient to reject the credit note if it does not belong to them.

11 Whether liability can be added in the same GSTR 3B in case the credit note has been rejected by the assessee before filing of GSTR 3B by the
supplier? No, if a credit note is rejected by the recipient, the supplier’s liability is increased on the portal by the same amount in GSTR 3B of the next tax period and not in GSTR 3B of the same tax period.