GST IMS Dashboard: New Guidelines for 'Deemed Acceptance' and Record Handling

The Goods and Services Tax (GST) framework introduced new guidelines for handling records on the Invoice Matching System (IMS) dashboard, aiming to improve clarity and streamline the GSTR-2B reconciliation process. Key highlights include the concept of ‘Deemed Acceptance,’ where any IMS record with no action taken by the recipient is automatically accepted. Only records saved and filed by the supplier will flow from IMS to GSTR-2B, ensuring only fully processed records are included in the final reconciliation. If a supplier makes changes to a saved record, it will reset in the IMS, appearing as a new entry for the recipient. Deleted records by the supplier will also disappear from the recipient’s IMS dashboard. These measures are expected to reduce discrepancies in GST compliance, making it easier for businesses to manage input tax credits and streamline their tax filing process. Tax professionals recommend prompt review of IMS dashboard records to avoid ‘Deemed Acceptance.’