Pending Invoices in IMS – The Concept and Process
Add Your Heading Text Here Pending Invoices in IMS – The Concept and Process In the realm of GST compliance, timing and ambiguity are of great importance. Every single invoice impacts your ITC calculations – which affects your monthly returns. A business’s expenses under ITC also include ambiguous invoices that have some semblance of eligibility. […]
Rejected Invoice on IMS: here’s everything you need to know
Rejected Invoice on IMS: here’s everything you need to know Has managing numerous invoices every month left you feeling overwhelmed as is? Now, consider the additional burden of receiving invoices that are either completely incorrect, belong to someone else, or have erroneous amounts. If you accept such invoices erroneously, your Input Tax Credit (ITC) as […]
IMS for QRMP Taxpayers: A Complete Guide
IMS for QRMP Taxpayers: A Complete Guide Change is coming to the claiming of the Input Tax Credit (ITC) and business processes with the introduction of the Invoice Management System (IMS) with its automation features. For QRMP (Quarterly Return Monthly Payment) taxpayers, this means no longer relying on GSTR-2B and her purchase invoice verification processes. […]
How Different Is Invoice Management System (IMS)? Current Practices vs IMS
How Different Is Invoice Management System (IMS)? Current Practices vs IMS Does matching your purchase transactions with GSTR-2B feel like a monumental task in the current process? For several businesses, it takes multiple days of manual reconciliations, clarifying inter-vendor misunderstandings, and overly drawn-out matching processes with incomplete transactions and delays, along with numerous back-and-forth calls […]
What is Changing in GSTR-2B and GSTR-3B with IMS?
What is Changing in GSTR-2B and GSTR-3B with IMS? Your interaction with GSTR-2B and GSTR-3B is changing for your benefit after the implementation of the Invoice Management System (IMS). IMS is a module that enables you to take actions on invoices uploaded by your suppliers in near real-time before filing your returns. You can accept […]
How to Claim Input Tax Credit Using IMS?
How to Claim Input Tax Credit Using IMS? Are last minute inconsistencies in your GSTR-2B causing you pain? That chaos is eliminated with Invoice Management System (IMS). With IMS, you have 100% control over watching your supplier invoices in real time and can accept, reject or hold them to avoid any unintentional impacts on your […]
What is Invoice Management System (IMS) under GST: Key Features, Benefits & How Does It Work
What is Invoice Management System (IMS) under GST: Key Features, Benefits & How Does It Work For companies dealing with GST obligations, managing input tax credit (ITC) can be a cumbersome issue. Conflicts with subcontractors dealing with unclaimed credits, invoices that do not match, and the endless cycle of reconciling with suppliers adds undue pressure. […]
Do small businesses get any benefits from Tally on Cloud?
Do small businesses get any benefits from Tally on Cloud? As previously mentioned, leveling up a small business is no easy feat. Factors like increased resource expenditure as well streamline operations on their quest for efficiency, flexibility, will require a plethora of tools. Tally on the other hand has been the forefront solution for small […]
What are bare metal servers? A Complete Guide by Cevious
What are bare metal servers? A Complete Guide by Cevious Control, security, and performance are paramount for businesses in the ever-changing landscape of IT infrastructure. Among the various hosting types available today — shared hosting, cloud computing, and Virtual Private Servers (VPS) — bare metal servers are exceptional for businesses that require unmatched power and […]
What are the different types of VPS hosting?
What are the different types of VPS hosting? Consumers and brands alike are on the look for flexibility in a scalable, high-performance hosting solution. This need, combined with the Availability of Digital services, offers an unmatched opportunity when it comes to VPS (Virtual Private Server) Hosting Services. If you are facing a challenging decision on […]
