India has just taken one of its most significant steps in modernising the world of work. On 21 November 2025, four primary Labour Codes finally came into effect. Replacing 29 older laws with a cleaner, unified framework.For years, companies have struggled with fragmented rules, state-by-state variations, outdated definitions, and a compliance landscape that felt like a maze with moving walls. The new Codes are meant to change that. Whether they'll make life easier will depend on how well organisations prepare over the next few months.This breaks down what the new laws really mean, what's likely to happen in the coming days, and how businesses can gear up without feeling overwhelmed.Key TakeawaysIndia’s labour law framework has been overhauled, replacing 29 laws with four unified, modern Codes.Wage structures will need immediate recalibration due to the new wage definition and minimum wage alignment.Social security coverage now extends to gig, platform, and contract workers, expanding employer responsibilities.Industrial relations, layoffs, and dispute processes are more structured, requiring updated HR and IR practices.Stricter safety, health, and working-condition standards demand operational changes and stronger documentation.Organisations must prepare proactively, as state-level rules and notifications will drive rapid implementation.Why This Change MattersThe four new Codes:Code on Wages,Code on Social Security,Industrial Relations Code, andOccupational Safety, Health & Working Conditions (OSHWC) Code Together, reshape almost everything about how India regulates work: salaries, hiring, benefits, exits, safety, and even gig work.For businesses, this is not a minor compliance tweak.

Understanding the taxability also involves knowing whether the item is exempt or not under GST. Due to the scope of taxable supplies being widened under GST, exemptions under GST have clearly been defined. Not just knowing the exemption list, but also understanding the implication of an item being exempt is important as certain conditions are attached to it like reversing the ITC.Also, what can be nil-rated today may become charged a higher tax rate in the future. Hence, clearly demarking the various terms such as Nil Rated, Exempt, Zero-rated and Non-GST supplies under GST is important. Read through and get the complete list of all the GST exemptions notified on Goods at a click of a button!.Also, click here to view the complete list of exempted services under GST.Key TakeawaysExempt supplies under GST include nil-rated supplies, supplies wholly or partially exempted by government notification, and non-taxable supplies like alcoholic liquor for human consumption.Exempt goods and services do not attract GST, and input tax credit (ITC) for such supplies cannot be claimed or utilized.Exemptions are granted by the Central or State Governments via notification, based on GST Council recommendations, and aim to serve public interest.Exemptions can be absolute (no conditions) like electricity transmission or conditional, such as healthcare services with capped room charges.Different classifications under GST include exempt, nil-rated (0% tax), zero-rated (exports), non-taxable (not yet notified), and non-GST supplies (outside GST scope).Exempted goods include essential food items, raw materials, certain healthcare products, agricultural goods, jewelry like plastic bangles, and printed books, among others.What is Exempt SupplyExempt supplies comprise the following three types of supplies:Supplies taxable at a ‘NIL’ rate of tax* (0% tax);Supplies that are wholly or partially exempted from CGST or IGST, by way of a notification amending Section 11 of CGST Act or Section 6 of IGST Act;Non-taxable supplies as defined under Section 2(78) – supplies that are not taxable under the Act (For Example Alcoholic liquor for human consumption)Tax need not be paid on these supplies.

An ICEGATE account is essential for any company or individual engaged in international trading business. It streamlines custom documentation processes and provides several other benefits to export-import enterprises. However, registering an account in this online portal is filled with document errors, issues with digital signature certificates and login problems. The problem mainly lies in the lack of clarity about the ICEGATE registration process. This article discusses everything you need to know about the purpose, process, status check, and other details of the ICEGATE registration.What is ICEGATE?ICEGATE, or Indian Customs Electronic Gateway, is the electronic data exchange gateway for the Indian Customs Department. The Central Board of Indirect Taxes and Customs (CBIC) manages this online portal, which allows international traders and logistics service providers from India to interact with the customs department. Exporters, importers and international delivery agents are statutorily required to maintain and file scores of documents related to bills of entry or shipping bills for every consignment.

Many small businesses perennially feel hard-pressed when it comes to managing financial liquidity. So, they resort to short-term loans whenever payments get delayed or unforeseen expenses arise. However, processing conventional business loans takes time. Lenders require collaterals or submitting tax returns to prove a stable flow of income. GST business loans solve many of these problems.This article discusses business loans against GST returns, their features and benefits, application procedures, etc. What is a GST Business Loan?After the government's introduction of the Goods and Services Tax (GST) in 2017, banks launched a new type of short-term loan product for micro, small, and medium enterprises (MSMEs) to finance their working capital requirements.

The GST portal's new invoice management system offers the recipient and supplier a separate dashboard for checking inward and outward invoices. The supplier view is crucial for checking the status of outward invoices, managing tax liability, and avoiding compliance issues. This article discusses managing invoice rejections and the common errors suppliers make in the supplier view section. Supplier role and responsibilities in GST complianceThe supplier's roles and responsibilities are crucial for accurate tax collection, payment, documentation, and GST compliance. Some of those responsibilities are:Ensuring accuracy while reporting supply details: A recipient acts on invoices, bill of entries for import of goods, and sales records raised and saved by suppliers in IMS. So, the suppliers must upload invoice data and records accurately in their GSTR-1/1A/IFF.

The Invoice Management System (IMS) under GST is a functionality launched on the GST portal by the Goods and Services Tax Network (GSTN), effective 1 October 2024. The IMS aims to create a communication channel between the recipients and suppliers by implementing an additional layer of document reconciliation and verification. Another objective of the IMS is to simplify the process of amending invoices, reduce errors in claiming input tax credits, and streamline the input tax reconciliation process.Timeline of IMS ImplementationThe IMS was launched on the GST portal as of 1 October 2024. Taxpayers can review the received invoices and other records starting 14 October 2024.Key Dates for IMS under GSTThe key dates relating to the IMS functionality including the communications issued by the GSTN are summarised below:DateTopicPurpose1st February 2025Section 38(1) of the CGST ActGovt via Union Budget recommended to change section 38(1) to omit the expression auto-generated for GSTR-2B16th November 2024Important advisory on GSTR 2B and IMSIssued to help taxpayers navigate when GSTR-2B for October-2024 was not generated on 14th November, 202413th November 2024Advisory on IMS on Supplier ViewSupplier View functionality was made available on the GST portal12th November 2024Advisory regarding IMS during the initial phase of its implementationProvided clarity on certain issues encountered by taxpayers while using the IMS17th October 2024Additional FAQs on IMSGave taxpayers a better understanding of the IMS14th October 2024Attention - Advisory on IMSProvided taxpayers with a better understanding of the IMS1st October 2024NALaunch of IMS22nd September 2024Frequently Asked Questions on IMS 17th September 2024Draft Manual on Invoice Management SystemA step-by-step procedure guiding taxpayers on the usage of the IMS3rd September 2024Introduction of IMS Introduced IMS as a new communication processHow IMS Affects GST FilingA draft Form GSTR-2B becomes available to the recipient on the 14th day of every month. The draft GSTR-2B is populated based on transactions reported by the supplier in Form GSTR-1, Form GSTR-1A, or the IFF, including import of goods.

The Invoice Management System (IMS) is an essential feature in the GST portal for businesses, accountants, and finance professionals who deal with supplier invoices. It allows its users to carefully review, approve, or reject invoices submitted by suppliers using forms like GSTR-1 and IFF. This system needs active involvement to ensure that invoices are accurate and compliant and that nothing is missed.This article explains approved invoices in IMS and their impact on GSTR-2B and ITC claims. Read What are Approved Invoices in the IMS Dashboard?'Approved Invoice' means you, as a recipient, have confirmed that an invoice is correct and follows GST rules. When you approve an invoice in the IMS, the information flows in your GSTR-2B report for that month.How to View Approved Invoices in IMS?Let's walk through how you can see these approved invoices in the system.First, you must log into the GST portal using your credentials.

The buzz around the Invoice Management System (IMS) has made many of us scratching our heads. Missing out on IMS might mess with crucial GST processes, like generating the "right" GSTR-2B. So, is IMS mandatory or optional? While waiting for the official word, let's break down why IMS is required for your business and why staying ahead of the curve could save you from future headaches.What is IMS The Goods and Services Tax Network (GSTN) introduced the Invoice Management System (IMS) on October 14, 2024. This new feature allows taxpayers to manage their invoices and generate GSTR-2B, ensuring they claim the "true" Input Tax Credit (ITC). Invoice details suppliers enter in their GSTR-1 will automatically appear in the buyer's IMS.

Compliance with GST rules and regulations has become a significant concern for businesses. Whether you are the CFO or finance manager of a large company with diversified business operations or a small business, you and your team might face similar problems while claiming input tax credits. However, we expect the future of GST compliance to improve with the Invoice Management System in the GST portal.This article discusses the GST Invoice Management System and how it is changing the worldview of GST compliance.  Table of contents:What is the IMS (Invoice Management System)? Key benefits of IMS for GST compliance How does IMS reduce non-compliance risks?Impact of IMS on different business sizesThe future of GST compliance with IMSWhat is IMS (Invoice Management System)? Invoice Management System is a new feature for communicating invoices saved/filed by suppliers/vendors in their GSTR-1 to recipient users. It is a dashboard inside the GST portal.  An invoice appears in the dashboard as soon as a vendor or supplier saves it.   The IMS dashboard offers 2 broad functionalities - View Inward Supplies View Outward Supplies Inside the Inward Supplies section, the recipient gets to:Take action on the invoices saved by suppliers or vendors in their GSTR-1 for claiming ITCCheck the summary of all the inward invoices and the latest status of each invoice based on  the actions taken Download inward invoice data in Excel formatReset action status for multiple invoices Generate GSTR-2BView the advisory or seek help if any clarification is required.Inside the Outward Supplies functionality, suppliers get to:Check actions taken by recipients (B2B customers) on the outward invoice they saved in their GSTR-1 Download outward invoice data in Excel file format. View the advisory or seek help if any clarification is required.Key Benefits of IMS for GST Compliance Improved accuracy in ITC claims Ensuring data accuracy while availing and claiming ITC in the portal has always been a significant problem for finance managers and CFOs. Usually, the accounts department must reconcile their records with invoices submitted by each supplier individually.

GSTN (Goods and Services Tax Network) recently introduced the Invoice Management System (IMS) as an additional layer in the existing reconciliation process in the GST portal on 1 October 2024. Both the GST authority and the indirect taxation experts expect the system to streamline the processes of ITC claims for business and help audit transactions more effectively.  This article discusses the new IMS functionality, explains how it helps users, and how to use the new feature for efficient ITC claims and compliance.  Key features of an Invoice Management SystemThe Invoice Management System or IMS within the GST portal offers several key features that make jobs more accessible for users. These features are:Communication functionality - The IMS improves the communication process between suppliers and their recipients. By providing the recipient with options to eitherAcceptReject orKeep the invoice pending,A recipient user can check invoices instantly once they are saved or filed in GSTR-1/1A/IFF by a supplier and act on the invoice to include it in the ITC claim process.  Single-window operation—Now, taxpayers can track, verify, and act on most invoices (except a few) from different suppliers in a single dashboard, saving a lot of workload. Summary view of invoices—The IMS will offer a consolidated filtered view of all invoices, their current status, and the actions that the recipient has taken on each invoice. For example, suppose the recipient has rejected an invoice.