What is IFF in GST?

I learned what is IFF in GST a year ago. IFF stands for Invoice Furnishing Facility under the Goods and Services Tax regime in India. It is a mechanism introduced to simplify compliance for small taxpayers who have opted for the QRMP scheme (Quarterly Return Filing and Monthly Payment).

• Through the IFF, businesses can upload their Business-to-Business (B2B) sales invoices monthly. It enables their buyers to claim the Input Tax Credit (ITC) promptly, even though the seller files GST returns quarterly.

• Allows quarterly filers to share invoice details with their buyers on a monthly basis. Helps maintain the buyer's ITC flow without waiting for the seller's quarterly GSTR-1 filing.

• Only available to taxpayers who have opted for the QRMP scheme and whose turnover is up to ₹5 crores in the previous financial year.

• Only B2B invoices, debit notes, and credit notes need to be uploaded. No need to report B2C invoices, export invoices, or other data.

• The monthly amount of invoices uploaded via IFF cannot be more than ₹50 lakh. Also, the details of the invoice can be provided from the first to the thirteenth of the following month.

I hope you understand the IFF in GST meaning.

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Hello friend. My brother, who works as a financial advisor, explained to me what is IFF in GST. He said that small taxpayers can upload their bills each month through a facility called the Invoice Furnishing Facility (IFF). It lessens the burden involved in filing taxes. For small taxpayers, however, this is optional and is only available for B2B supplies up to a specific value. I have shared more details below that he shared with me regarding IFF facility.

What is IFF Meaning in GST?

He said in simple terms that under the QRMP (Quarterly Returns with Monthly Payment) scheme, taxpayers have the IFF option to submit information of their outward supplies during the first two months of the quarter (M1 and M2) in order to pass on the credit to their beneficiaries. The taxpayer must file the quarterly Form GSTR-1 for the third month (M3) of the quarter.

He also informed me of the following points:

• Rule 59(2) of the CGST Rules governs it, and normal taxpayers with an annual aggregate revenue of up to Rs. 5 crore are eligible. 

• This IFF facility makes it simple for taxpayers to report their purchases and transactions in a methodical way.

• IFF is an optional service available just to quarterly taxpayers. The submission of the IFF is required if it is in the Submitted status. 

• The taxpayer cannot file their Form GSTR-1 for the quarter if the provided IFF is not filed.

Apart from this, my brother said that the following tables of FORM GSTR-1 that needs to be filled under IFF:

• 4A, 4B, 4C, 6B, 6C – B2B Invoices

• 9B – Credit/ Debit Notes (Registered)

• 9A – Amended B2B Invoices

• 9C – Amended Credit/ Debit Notes (Registered)

I hope you understand the meaning of invoice furnishing facility in GST portal.