The IRISGST Times
Volume 86 | February, 2025
What’s Inside
Dear Readers,
Welcome to the latest edition of our IRIS GST Times Newsletter😊
The second month of 2025 is over and March, the financial year end, is already here!
The Union Budget 2025 was released on February 1 and brought in a wave of new changes which we have covered in this Newsletter.
In addition, we bring you the latest GST notifications, circulars, and insightful articles on recent regulatory updates to help you navigate compliance with ease.
Here’s a glimpse of what’s inside this month’s edition:
- Top GST News & Articles on Latest Updates in February 2025
- Webinars and Events
- IRIS GST Software – First to Integrate 2A Data for Enhanced IMS Recon
- Compliance Calendar for March 2025
Thank you for choosing to stay informed with us.
Happy Reading!
Warm Regards,
Meghana Pawar,
Editor, IRISGST Times
GST Updates
Product Highlight
IRIS Leads the Way: First to Integrate 2A Data for Enhanced IMS Reconciliation
We are thrilled to announce a game-changing upgrade to our reconciliation capabilities—IRIS is the first to integrate IMS with 2A data, enabling rate-level reconciliation for unmatched accuracy and insights.
Previously, IMS reconciliation was limited by the data available. With this enhancement, our system now fetches and syncs 2A data alongside IMS data, allowing deeper validation and more precise reconciliation at the tax rate level—a breakthrough in ensuring compliance and financial accuracy.
New Fields in IMS Reconciliation Results
With this update, you now have access to additional critical details:
GSTR1/1A Filing Date – Track invoice inclusion in GSTR-2B and detect late supplier filings.- CFS 3B Status – Assess vendor compliance with GSTR-1 and GSTR-3B filing insights.
- RCM Details – Ensures RCM details in purchase data match with IMS + 2A data &identifies discrepancies.
- Amendment Flags: Clearly indicates what changes were made in amended invoices and enables accurate reconciliation by providing direct insights into supplier modifications.
- Return Period Details – Cross-check original vs. amended return periods. Helps track past actions on original invoices and align them with current decisions.
- Supplier Cancellation Date – Know when suppliers’ GSTINs were canceled. Ensures timely decisions regarding IMS data for discontinued suppliers.
- IRN Generation Details – Verify that E-invoice details remain unchanged. Confirms that suppliers have not altered E-invoice details, ensuring data integrity.
GST Compliance Calendar
A comprehensive GST Compliance Calendar, curated for you to aid in adhering to GST regulations. It includes all the GST due dates for March 2025.
Click here to read: GST Due Dates – March 2025 Calendar
By Swati Ajmera
We hope you enjoyed reading this issue of IRIS GST Times and found it informative!
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