Introduction of IMS
GSTN has introduced IMS (invoice management system) from Oct-2024 which allows the recipient to take actions on the purchase invoices. IMS does not include the GST rate-wise breakup in the purchase invoices. It only include the total taxable value and total tax (IGST/CGST/SGST/Cess) summarized at the invoice level. With the introduction of IMS, GSTR-2B will also be generated from the IMS data. Therefore, GSTR-2B will also not include GST rate-wise breakup in the purchase invoices.
Impact on GSTR-2B
This update makes Octa GST compatible with the latest technical specification of GSTR-2B, while also keeping it compatible with old structure which will continue to include GST rate-wise breakup for periods before Oct-2024. The following table summarizes the impact of this change on various features:
| Feature | Before Oct-2024 | Oct-2024 Onwards |
|---|---|---|
| GSTR-2B Download / Fetch | Same as before. GSTR-2B data be fetched and imported. | If you make any changes in IMS (accept/reject/pending etc.), then make sure you re-compute the GSTR-2B in IMS dashboard. |
| GSTR-2B View | Same as before. You can view GST rate-wise breakup in invoices. | Only the invoice level summary (taxable value, tax amounts) will be shown. |
| GSTR-2B Export | Same as before. GST rate-wise info will be available so there can be multiple rows for the same invoice. | GST rate will be blank. Always have one row for each invoice. |
| GSTR-2B Reco → Auto generate purchase invoice | Same as before. GST rate-wise info will be used to generate line items. | Auto generated invoice will always have single line item. GST rate will be computed based on total taxable value and total tax. |
| GSTR-2B Reco Report | Same as before. Both invoice level and GST rate-wise reconciliation will be available. | No change in invoice level reconciliation. GST rate-wise reconciliation will not be available. |