ICMAI Releases Handbook on Invoice Management System Under GST

The Institute of Cost Accountants of India (ICMAI) recently released a handbook on “Invoice Management System under GST”.

The handbook covers the entire spectrum of invoice handling, including the mechanics of the new portal, IMS Documents eligibility, Supplier management, Data governance, SOPs and others. The main objective of this is to bridge the gap between policy intent and ground-level trade operations.

This handbook explains the common problems businesses face when managing invoices from creating them to reporting, matching records, and finally receiving the payment or credit. It breaks down how the new IMS portal works in a simple way, points out where mistakes or risks can happen, and shows how companies can avoid these issues by improving their internal processes and controls.

ICMAI’s handbook is helpful for all tax practitioners, business leaders, consultants and students, as it allows them to navigate the digital landscape of GST with confidence, clarity and compliance.