Invoice Furnishing Facility (IFF) Under GST
Table of Contents
Q1. What is Invoice Furnishing Facility (IFF)?
1. Invoice Furnishing Facility (IFF) is a facility where quarterly taxpayers can upload the details of their outward supplies in the first two months of the quarter (Month-1 and Month-2). The facility will be similar to FORM GSTR-1 but will allow the filing for only the following tables:
- 4A, 4B, 4C, 6B, 6C – B2B Invoices
- 9B – Credit/ Debit Notes (Registered)
- 9A – Amended B2B Invoices
- 9C – Amended Credit/ Debit Notes (Registered)
Q2. Who can use the Invoice Furnishing Facility?
2. Small taxpayers who have opted for the QRMP scheme for filing their GSTR-1 returns every quarter can Opt for the Invoice Furnishing Facility (IFF). If a taxpayer doesn’t opt to file the IFF, then he/she has to upload the details of outward supplies for the three months of the quarter in the GSTR-1 return.
Q3. Is it Compulsory to file IFF?
3. No, IFF is an Optional facility.
Q4. Can we file IFF after its Due date?
4. No, the Option to upload details in IFF will end after the 13th of the month.
Q5. Can we upload details of Outward supplies in IFF of Subsequent months i.e. details of Month-1 in Month-2?
5. Any details of Outward supplies remaining may be filed using the IFF of the subsequent month or in the quarterly Form GSTR-1.
Q6. Is there any Late fees on the late filing of IFF?
6. IFF is not allowed to be filed after the end date which means it doesn’t attract any late fee.
Q7. Do we have to re-enter the details filed in IFF in the GSTR-1 of the Quarter?
7. No, once details have been filed in IFF, then there is no need to furnish the same details in quarterly GSTR-1.
Q8. What will happen to a Submitted but not Filed IFF after the end date?
8. Post IFF end date if the IFF is neither filed nor submitted then it can’t be edited or filed. However, submitted IFF can be filed even after the IFF end date. Further, we can reset the details filled and saved before the end date by clicking the RESET button on the IFF page.
Q9. Where can we view the filed IFF forms?
9. we can view the filed IFF forms under the ‘View Filed returns’ and ‘Track return status’ options.
Q10. What is the benefit of IFF?
10. Following are the benefits of IFF:
- All invoices filed by the supplier via IFF will show in Form GSTR-2A and GSTR-2B of the recipient.
- IFF doesn’t attract any Late fees like in GSTR-1
- IFF is Optional and Flexible.
- It helps in the monthly reconciliation of data & makes the filing of quarterly returns easier.
- Small taxpayers can improve their business by providing timely ITC claims.
Consultant
