The GST system, launched in 2017 in India, continues to evolve to make compliance smoother and more transparent. Recently, there have been important updates around QRMP, IMS, and E-Invoicing. These changes mainly affect MSMEs (small and medium businesses) and exporters. Let’s break them down in simple language.
QRMP stands for Quarterly Return, Monthly Payment.
Who can use it?
Businesses with a turnover up to ₹10 crore.
How does it work?
IMS is a new feature launched on the GST portal. It helps you manage all invoices received from your suppliers in one place. With IMS, you can:
Accept invoices: ITC (Input Tax Credit) will be available.
Reject invoices : Wrong or duplicate invoices will not affect your returns.
Mark as pending : If you are not sure, you can review later.
Important: If you take no action, the invoice is automatically treated as accepted.
This system makes ITC claims safer and reduces mismatches in GSTR-2B and GSTR-3B.
Read More: Export GST Refund
How it works:
1. You create an invoice in your software.
2. Upload it to the IRP.
3. IRP gives back a unique Invoice Reference Number (IRN) and a QR code.
4. This IRN must be printed on the invoice.
Bonus: E-invoicing also helps in faster export GST Refunds and easier documentation.
IMS: Less frequent filing, simple compliance for small businesses.
E-Invoicing: Easy tracking of supplier invoices, safer ITC claims.
Accurate reporting, reduced fraud, and faster export
If your turnover is under ₹5 crore, opt for QRMP to reduce filing work.
Keep checking the IMS dashboard so you don’t miss invoice actions.
If your turnover crosses ₹10 crore, be ready for mandatory e-invoicing.