INTRODUCTION OF "PENDING" OPTION FOR CREDIT NOTES AND DECLARATION OF REVERSAL AMOUNT IN IMS!

INTRODUCTION OF "PENDING" OPTION FOR CREDIT NOTES AND DECLARATION OF REVERSAL AMOUNT IN IMS!

Published on: October 17th, 2025 | By ActiveTaxPro Advisory!

The Goods and Services Tax (GST) portal has recently introduced a new “Pending” option for Credit Notes along with a facility to **Declare The Reversal Amount in The Input Management System (IMS)**. This update aims to simplify compliance and improve transparency in credit note tracking and input tax reversals.

Key Highlights of the Update:

1. New “Pending” Option for Credit Notes:

   Taxpayers can now mark credit notes as Pending while reconciling invoices. This helps in better monitoring and validation before final acceptance or rejection.

2. Declaration of Reversal Amount in IMS:

   The new feature allows taxpayers to directly declare the Reversal of Input Tax Credit (ITC) related to such credit notes within the IMS, ensuring accurate reporting and reduced mismatches.

3. Enhanced Accuracy & Compliance:

   This update minimizes manual errors and improves coordination between suppliers and recipients regarding credit adjustments.

4. Simplified Workflow for Tax Professionals:

   Chartered Accountants, Tax Consultants, and Businesses can now manage ITC reversals and credit note reconciliations seamlessly from a single interface.

Why This Update Matters?

The introduction of the Pending status is a significant step toward ensuring Better GST Data Integrity. It reduces discrepancies in GSTR-2B reconciliation and helps taxpayers stay compliant with the latest GST rules.

ActiveTaxPro Advisory Note:

At ActiveTaxPro Advisory, we help businesses stay updated with the latest GST changes and provide expert assistance for registration, filing, and compliance management.

Stay ahead with our Professional Tax Advisory Services and ensure your business remains compliant with every GST update.