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GST webinar highlights practical insights for tax and finance professionals

Mumbai: The Bombay Chamber of Commerce and Industry, under the aegis of its Indirect Tax Committee, hosted an informative webinar on the Goods and Services Tax (GST) Invoice Management System (IMS). The session provided participating tax professionals and finance teams with timely updates and practical guidance on the evolving invoice reconciliation framework.

The session centred on operational and strategic implications of the IMS, introduced by the GSTN and also discussed updates effective July 2025. The system is designed to enable recipient taxpayers to reconcile purchase invoices in real time, with functionality to accept, reject, or defer invoices – ultimately streamlining the Input Tax Credit (ITC) claim process.

The webinar was led by two eminent speakers viz. Kartik Gandhi, Head of Indirect Tax at Siemens Ltd., and Komal Sampat, Director in the Indirect Tax practice at Deloitte Tohmatsu India LLP. Drawing from more than 15 years in the domain, Gandhi elaborated on technological integrations and practical workflows in managing indirect taxes. Sharing nuanced insights from over a decade of experience in indirect tax advisory and compliance, Sampat highlighted real-world applications and sectoral impact across industries such as energy, TMT, pharmaceuticals, consumer goods, and small and medium enterprises (SMEs).

Participants gained a clear understanding of the IMS structure, from invoice submission by suppliers to the recipient’s actions and the cascading effects on GSTR-2B and GSTR-3B filings. The session offered a comprehensive walkthrough of the IMS dashboard, invoice tracking capabilities, and the communication loop between supplier and recipient. The presenters also navigated scenarios involving invoice exceptions and discussed best practices for streamlining compliance efforts in light of recent regulatory amendments. Legal updates and their implications for IMS usage were thoroughly reviewed, ensuring participants left with actionable clarity.

The webinar concluded with an interactive Q&A session, where participants sought clarification on individual queries. Attendees were encouraged to share additional practical challenges related to GST IMS directly with the Bombay Chamber and were assured of timely support and guidance from GST experts.

(Write to us at editorial@bombaychamber.com)