Surat : GST Portal to Introduce Invoice Management System from October 1st

Surat : Starting October 1st, the GST portal will roll out an Invoice Management System (IMS) to address persistent issues faced by traders during GST 3B return filings. The system will allow corrections to invoice entries directly on the portal, potentially reducing the incidence of errors that often lead to official notices.

Traditionally, when a trader issues an invoice for goods sold, the details are saved in GST R-1, which are then visible to the purchaser on the portal. Errors in these invoices can previously only be corrected by canceling the faulty invoice and uploading a corrected version. However, any mistakes in the uploaded invoices were accepted by the GST portal by default, leading to potential discrepancies during assessments by GST officials.

CA Puneet Garg explained to Loktej that the new IMS will immediately catch any mistakes made by the traders, thereby reducing the likelihood of receiving notices. Additionally, corrections can be made instantly, ensuring that both the buyer and seller can claim their input tax credit without hassle.

Shravan Mengotia, a prominent business leader, added that the new system would significantly ease the filing process and reduce the bureaucratic challenges traders face. With this system, traders can accept, reject, or hold invoices in the system, which they can later use to their advantage.

This update is part of ongoing improvements to the GST portal aimed at facilitating easier compliance and enhancing the operational efficiency of tax filings in India.