As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to Rs 5 crore may be allowed quarterly filing of GSTR-3B along with monthly payment of tax, with effect from 01.01.2021.
In line with the Government has issued notifications to implement the Scheme of quarterly return filing along with monthly payment of taxes (referred to as “QRMP Scheme”).
For each of the first and second months of a quarter, the registered person who has opted for QRMP scheme has the facility (Invoice Furnishing Facility- IFF) to furnish the details of such outward supplies to a registered person, as he may consider necessary, between the 1st day of the succeeding month till the 13th day of the succeeding month.
Thus the supplier in the first 2 months of the quarter can opt for uploading his selective Business to Business Invoices to a newly introduced system at GST Server i.e. Invoice Furnishing Facility. The details of invoices furnished using the said facility in the first two months are not required to be furnished again in FORM GSTR-1.
The said details of outward supplies shall, however, not exceed the value of Rs 50 lakhs in each month. It may be noted that after 13th of the month, this facility for furnishing IFF for previous month would not be available. As a facilitation measure, continuous upload of invoices would also be provided for the registered persons wherein they can save the invoices in IFF from the 1st day of the month till 13th day of the succeeding month.
The facility of furnishing details of invoices in IFF has been provided so as to allow details of such supplies to be duly reflected in the FORM GSTR-2A and FORM GSTR-2B of the concerned recipient.
The Central Board of Indirect Taxes and Customs (CBIC) clarified the doubt on the Invoice Furnishing Facility from tomorrow onwards.
The CBIC clarified that Invoice Furnishing Facility (IFF) is an optional facility to be used depending on the needs of the supplier and their buyer. Taxpayers may file their GSTR-1 for quarter without filing IFF.
Also Read: FAQs on quarterly filing of GSTR-3B and monthly payment of tax (QRMP Scheme)
The tweet of the CBIC in this regard is as under:
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
