The Invoice Management System (IMS) is one of the most significant updates under GST, bringing a structured approach to how invoices are reported, validated, and reconciled. For businesses, this means a big shift in the way you manage compliance and claim Input Tax Credit (ITC).
To help you decode these changes and prepare confidently, we’ve created a comprehensive IMS Guide, your one-stop resource to understand how IMS works and what it means for your business.
Here’s a glimpse of what’s covered inside:
Current Practices vs IMS
A side-by-side look at today’s methods versus the IMS-driven approach—so you’re always ahead of the curve.
IMS in the GST Cycle
A clear explanation of how IMS fits into the broader GST return filing process.
Pending and Rejected Invoices
Insights into how IMS tracks invoices, what happens when they’re pending or rejected, and the right steps to take.
|
IMS Guide Free Download This all-in-one guide covers everything you need to know about IMS. Download now to get started. |
ITC Claiming through IMS
Practical guidance on how IMS will impact your ITC claims and how to stay compliant while maximizing credits.
Impact on GSTR-2B and GSTR-3B
A breakdown of the direct changes IMS brings to auto-populated returns and monthly filing.
IMS for QRMP Taxpayers
Special notes for quarterly taxpayers and what they need to adapt to.
Reconciliation Made Easy
How to simplify invoice reconciliation in the IMS era and ensure your books match effortlessly.
Why you need this guide
IMS is not just a compliance update, it’s a new way of managing GST. This guide will help you:
- Get clarity on complex concepts in simple terms
- Learn the step-by-step process of IMS
- Avoid risks of invoice mismatches and ITC loss
- Prepare your business for smoother GST compliance
Download the IMS Guide by clicking here and get the complete picture of IMS for your business.
Quick Bites
Q1. What is IMS in GST?
IMS is the Invoice Management System that enables businesses to manage invoices (accepted, rejected, or pending) for accurate GST compliance.
Q2. How does IMS impact ITC claims?
By reconciling invoices in real-time, IMS ensures only eligible ITC is claimed, reducing mismatches and risks.
Q3. What happens if an invoice is rejected in IMS?
A rejected invoice means you can’t claim ITC on it until corrected and re-accepted.
Q4. Is IMS relevant for QRMP taxpayers too?
Yes, IMS applies to QRMP taxpayers, helping them reconcile invoices and file accurately.
Q5. How does TallyPrime help with IMS?
With TallyPrime’s connected IMS solution, you can seamlessly download, reconcile, and act on invoices without leaving the software.
👉 Next read: Pending invoices in IMS – The concept and process
