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Igst invoice format for Management

now question is that whether all documents will be populated in IMS then there are two sort of a document which is present in gst1 but will not come in IMS hi everyone I'm C puni indir tax expert at clear and today we are going to understand about the new functionality introduced by the gstn which is invoice management system which is going to be live on 1st October 2024 so let's understand about the concept of invoice management system with the help of an example so today when we talk from the supplier angle supplier uploads the invoice on Nic to generate the invoice whatever the invoices are generated by the supplier gets autop populated in gstr one of the supplier supplier can always directly upload some invoices in their gst1 or maybe on if if they are quarterly suppliers and then all this invoice which is present in GST one of the supplier will be autop populated in the IMs of the recipient this information will be at a document level now the recipient have an option for three action either they can accept that invoice they can reject this invoice or they can keep this document as pending if no action has been taken by the recipient on the document which is present in IMS then it will be deemed as accepted and this will be automatically be populated in gstr Tob on 14th of the next month now when this 2B has been generated when no action was taken all this information is anyhow present if that invoice was rejected then this information will be populated in 2B under a separate section which is rejected section if that document was marked as pending in IMS then that document is not going to be populated in gstr 2B and will remain there in IMS itself if it is accepted that anyhow the document is there in your gstr 2B now question is that whether all documents will be populated in IMS then there are two sort of a document which is present in gstr1 but will not come in IMS one is in respect of RCM where recipient was liable to pay the taxes under the reverse charge that document will not form part of IMS and second because of the ineligible ITC it could be due to POS which means supplier State and the place of Supply are in the same state but the recipient GS is in some other state or it's a Time B thing so in that case this document will not form part of IMS now let's talk about let's say on 14 your 2B got generated but now can I go ahead and change the actions which is there in my IMS then I can obviously do that but before filing my gstr 3B so I can change the action which is there in IMS so even if it is deemed as accepted I can still go and keep it as pending or maybe I can just mark it as rejected all of that is possible and once you do that if you make changes in your IMS just make sure that you're also recomputing your gstr 2B and after you have recomputed your gstr 2B you prepared your your entire gstr 3B and then file your GST 3B the credit note which is rejected by you in the IMs that will become the liability of the supplier and will be reflected in their GST 3B as a liability in the next month filing so this are some of the information which is very much relevant when we talk from the invoice management system so for more update just check our webinar thank you thank you very much