Invoice Furnishing Facility (IFF)

IFF (INVOICE FURNISHING FACILITY)

CBIC had implemented the IFF facility on 10th Nov 2020 through Notification 82/2020 which has become effective from 01st January, 2021.

IFF allows small taxpayers who file their returns quarterly to upload B2B Invoices up to Rs 50 lakh per month through IFF in the first two months of their quarter and pass the input tax credit to their suppliers. can on.

Now let us know the answers to some important questions related to IFF.

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Q. Since when has IFF been implemented?

   A.1st Jan, 2021

Q. What is IFF for?

   A.Only for those who have opted for Quarterly Return Monthly Payment scheme.

Q. Is IFF optional or mandatory?

   A.Optional.

Q. Is there any limit for uploading Invoice in IFF?

   A.Yes, B2B invoices worth more than Rs 50 lakh cannot be uploaded in any month.

Q. Then if I have invoices worth more than Rs 50 lakh in a month, what will happen to them? When and how can I upload them?

   A.You can upload it in next month's IFF or quarter's GSTR1.

Q. Do I have the right to choose B2B invoices up to Rs 50 lakh or are there any rules or conditions given for that?

   A.No, there is no such condition, you can pass on ITC to any B2B supplier you want.

Q. Should we include tax while calculating B2B invoices up to Rs 50 lakh or should only the total taxable value not exceed Rs 50 lakh?

   A.Yes, you will have to calculate total Rs 50 lakh by including tax.

Q. Can only B2B invoices be uploaded in IFF? Or debit/credit note can also be uploaded?

   A.Yes, you can upload both B2B invoices and debit/credit notes.

Q. Is there any last date given for filing IFF?

   A.13th of every month.

Q. What will be the consequences if I file IFF after the due date?

   A.Instead of getting ITC in the same month, your supplier will get it in the next month.

Q. And if there is a last date, is there any kind of late fee or penalty for filing after that date or not?

   A.There is no late fee or penalty of any kind.

Q. Once IFF is filed, is it necessary to always file it?

   A.No

13) Is IFF filed every month?

No, IFF will be filed only for the first two months of the quarter and you will have to file GSTR1 in the third month i.e. quarter end.

What details are filled in IFF?

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1. 4A (Supplies other than RCM and E-Commerce Operator)
2. 4B (Supplies Attracting RCM)
3. 4C (Supplies through E-Commerce Attracting TCS)
4. 6B (Supplies made to SEZ unit or SEZ Developer)
5. 6C (Deemed Export)
6. 9B (Dr/Cr Note to Registered Person)
7. 9A (Amendment of B2B Invoice)
8. 9C (Amendment of Dr/Cr Note)

14) Which details cannot be uploaded in IFF?

   A.Any kind of invoices issued to unregistered person and Exports Invoices, Nil rated supply, exempted supply, Non GST supply, HSN wise summary, Documents issued, Statement of Advance Received.

15) If any mistake is made while filing IFF, can we amend it?

   A.It is mandatory to file GSTR1 at quarter end, IFF- is not a substitute for GSTR1.

• Will my supplier get ITC by filing IFF or will it be reflected in GSTR2A, GSTR2B to the supplier only after filing GSTR1 of the quarter?

If you have filed IFF till 13th then your supplier will get ITC and if you have filed after 13th then you will get ITC in the next month.

• What if I have not filed GSTR3B of my previous quarter?

If you have not filed your GSTR3B for the last quarter then you cannot file IFF.

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