As applicable, the taxpayers shall furnish the sales details in form GSTR-1 monthly or quarterly. Also, quarterly GSTR-1 filers are given an option to upload Business to Business (B2B) sales details in the Invoice Furnishing Facility (IFF) for the first two months of the quarter.
The department made continuous enhancement and technological improvements in GSTR-1/IFF. This initiative led to a better summary generation process, quicker response time, and enhanced user experience.
Previously, the department deployed GSTR-1/IFF enhancement in November 2021. In that phase, the GST portal provided new features such as revamped dashboard, improved B2B tables, and table-wise documents count. In continuation, the department is planning to deploy the next phase of the GSTR-1/IFF improvements very soon.
The GSTR-1/IFF can be viewed as usual by navigating in the following manner:
Return Dashboard > Selection of Period > Details of outward supplies of goods or services GSTR-1 > Prepare Online.
The department is planning to implement the below GSTR-1/IFF enhancements :
1. Removal of the ‘Submit’ button before filing: The taxpayer should go through the two-step filing of GSTR-1/IFF, where both the ‘Submit’ and ‘File’ buttons are present. The portal replaces both these buttons with a single-step filing process. The department is introducing the ‘File Statement’ button. This move provided the flexibility of adding or modifying records till the final step of the return filing.
2. Consolidated summary: A table-wise consolidated summary will be shown before filing GSTR-1/IFF. This consolidated summary will provide a complete overview with a detailed and table-wise summary of the records.
3. Recipient wise summary: This new consolidated summary will provide a recipient-wise summary and show the total value of the supplies and the total tax involved for each recipient. The following recipient-wise summary will be made available in GSTR-1/IFF:
- Table 4A: B2B supplies
- Table 4B: Reverse charge supplies
- Table 6B: SEZ supplies
- Table 6C: Deemed exports
- Table 9B: Credit/Debit Notes (CDN)
4. Summary PDF: Taxpayers can now download the detailed summary of GSTR-1/IFF in the new summary format that has been aligned with the notified GSTR-1 format. It will also contain the taxpayer’s total liability (other than reverse charge), to be auto-populated in GSTR-3B.
For any clarifications/feedback on the topic, please contact the writer at dvsr.anjaneyulu@cleartax.in
DVSR Anjaneyulu known as AJ, is a Chartered Accountant by profession. Loves to listening to music & spending time with family and friends.
