?? Desk of CA. Praveen Sharma Series-581?? Once a supplier saves an invoice in GSTR-1, it appears on the recipient’s IMS dashboard
CA. Praveen Sharma (Corporate Trainer)
Chartered Accountant II Taxation Expert II GST MITRA II Speaker II Trainer II Author II Content Creator II Virtual CFO II Research Analyst II Personal Branding Coach II Co-Founder Tax4Wealth ll 91-9871530610
?Accept : The invoice is reflected in GSTR-2B, allowing the recipient to claim ITC.
?Reject: ITC will not reflect in GSTR-2B.
?Keep Pending: The invoice can be reviewed in future months.
?No Action: If no action is taken, the invoice is deemed accepted, and ITC moves to GSTR-2B.
Pending actions are not allowed in certain cases, such as:
Original credit notes.
?Upward revision of credit notes, even if the original was rejected.
?Downward amendments to credit notes or invoices already accepted if GSTR-3B is filed.
From 1st October 2024:
?Supplier amendments in GSTR-1 will update the invoice in IMS automatically.
?Only invoices reported in GSTR-1 will be considered for ITC in GSTR-2B.
?No further actions can be taken once GSTR-3B is filed.
?GSTR-2B recalculates if changes occur after actions, or if actions happen after the 14th of the month.
Ask with https://taxbotgpt.ai/ for more information.
CA. Praveen Sharma