Some important points on IMS in GST mentioned here in thread
It was launched From 1st October
All the accepted/rejected records belonging to a particular GSTR-2B period will be removed from IMS on filing of GSTR-3B for that particular period. Only the pending record and the invoices/records belongs to future tax period shall remain in IMS
The documents will be available in IMS as soon as they are saved by the supplier in their corresponding GSTR-1/1A/IFF and it is available to the recipient taxpayer in IMS for taking actions.
By default all the records will flow into “No Action” category and records with “No Action” will be deemed accepted at the time of GSTR-2B generation.
Action can be taken multiple times on an invoice/record before filling of GSTR 3B. In case of multiple actions on a record, latest action will overwrite the previous action.
The documents will be treated in following manner based on different kind of action:
i. Accept –Accepted records will become part of ‘ITC Available’ section of respective GSTR 2B and it will auto-populate in GSTR 3B.
ii. Reject –Rejected records will become part of ‘ITC Rejected’ section of respective GSTR 2B and it will not auto-populate in GSTR 3B.
iii. Pending –Pending records will not become part of GSTR 2B and GSTR 3B. Such records will remain on IMS in GST dashboard till the time same is accepted or rejected or till the time timeline prescribed in Section 16(4) of CGST Act.
iv. No Action – records with “No Action” status will be deemed accepted at the time of GSTR-2B generation.
RCM invoices are not part of IMS but will continue to be part of GSTR-2B as it is being reflected today.
Excel download facility is available to download the IMS data .
If any action was taken on record before generation of GSTR 2B then that GSTR 2B will auto-populate the records to GSTR-3B and if any action was taken on record after generation of GSTR 2B then at the time of filling GSTR-3B recipient will require to click on Compute GSTR 2B to consider an impact of actions taken on or after 14th in his GSTR-3B
In case the previous period GSTR 3B is not filed by the taxpayer then the system will not generate their draft GSTR 2B on 14th of the subsequent month
For quarterly taxpayers, GSTR-2B will not be generated for the months M1 and M2 of the quarter.
If there is any change made by recipient on IMS dashboard after draft GSTR 2B generation by system, it is mandatory to re-compute GSTR 2B
Accept : Means Transactions belong to you
Reject : Means Transactions not belong to you but reflecting in your IMS (Reject Does not means those Transactions where you don’t want to claim ITC but the Transactions were belong to your business only like bank charges etc.)
Pending : Means Transactions belong to you but currently you are not eligible for ITC due to IMS in GST Provisions.