The invoice furnishing facility is now available for taxpayers opting for the Quarterly Return Monthly Payment (QRMP) scheme, newly introduced under GST. The facility is available for reporting only Business-to-Business (B2B) invoices and credit or debit notes. Popularly known as IFF, the facility was made available to only those having annual aggregated turnover of up to Rs.1.5 crore in the previous fiscal year.
On 6th January 2021, the GST Network released an update on the GST portal about the facility going live and the release of the user manual and list of FAQs. The quarterly filers of GSTR-1 and GSTR-3B under the QRMP scheme as per sub-rule (2) of Rule 59 of the CGST Rules can use the facility, says the update.
Taxpayers who have opted for the quarterly filing frequency under the scheme will file their outward supplies (B2B invoices only) for the first two months of a quarter (M1 and M2 respectively of a quarter) using IFF. For example, for the quarter of April-June, B2B invoices can only be filed at the IFF by a taxpayer for April (M1) and May (M2).
Also Read: Popular Queries Galore About the QRMP Scheme
The window is similar to GSTR-1 as it allows the filing of details of B2B invoices in the following tables only:
- Tables 4A, 4B, 4C, 6B, 6C – B2B Invoices
- Tables 9B – Credit / Debit Notes (Registered) – CDNR
- Tables 9A – Amended B2B Invoice – B2BA
- Tables 9C – Amended Credit/ Debit Notes (Registered) – CDNRA
The IFF may be used until the 13th of the following month for the first two months of the quarter. Therefore, Taxpayers can upload their invoices for the period starting 1st day of the month until the 13th day of the next month. It is an option given to taxpayers for the first and second months of a quarter under the QRMP scheme to pass on the Input Tax Credit (ITC) to their recipients.
Any remaining invoices missed in the current month’s IFF may be reported in the next month through IFF or filed in the GSTR-1 quarterly return. However, it is compulsory to file GSTR-1 for the third month of a quarter of a month. For example, for the quarter of April-June, a taxpayer can file B2B invoices for April (M1) with IFF until 13th May. Any invoice that is not filed by the 13th of the following month will need to be reported for the subsequent month.
Log in to the GST portal and navigate to Returns > Services > Returns Dashboard > File Returns and then to file the IFF form for M1 and M2 of the quarter. Pick the financial year and return filing date (quarter, M1/M2) and press the ‘SEARCH’ button to report for the M1 or M2 months.
Few salient points to note are as follows:
- Records submitted by the supplier to IFF will be expressed in the recipient’s GSTR-2A/2B.
- Supplier taxpayers may also use the ‘Returns Offline Tool’ to upload information to their IFF via JSON file.
- The records submitted to the IFF need not be re-submitted to GSTR-1 of that quarter.
- Use the RESET button to delete or edit only the information contained in the IFF. These data once submitted or filed, cannot be deleted.
For any clarifications/feedback on the topic, please contact the writer at annapoorna.m@cleartax.in
Annapoorna, popularly known as Anna, is an aspiring Chartered Accountant with a flair for GST. She spends most of her day Singing hymns to the tune of jee-es-tee! Well, not most of her day, just now and then.
