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GSTN announces upcoming GSTR-1/IFF improvements on GST Portal
On the GST Portal, the Goods and Services Tax Network (GSTN) has announced the upcoming GSTR-1/IFF upgrades.
The statement of outward supplies in FORM GSTR-1 is to be given by all normal taxpayers on a monthly or quarterly basis, as applicable, according to a statement issued by GSTN. Quarterly GSTR-1 filers now have the option of using the Invoice Furnishing Facility (IFF) to report outward supplies to registered individuals (B2B supplies) in the first two months of the quarter.
GSTR-1/IFF has undergone continuous updates and technology changes to improve its performance and user experience, resulting in improvements in the Summary Generation process, faster response times, and a better user experience for taxpayers.
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In November 2021, the prior phase of GSTR-1/IFF improvement was released on the GST Portal. During that time, new features such as a redesigned dashboard, better B2B tables, and information on the number of table/tile documents were made available. In addition, the next phase of the GSTR-1/IFF upgrades will be introduced on the Portal in the near future.
GSTR-1/IFF can be seen in the usual way by navigating as follows:
Return to the Dashboard > Choose a Period > Details of outbound goods and services GSTR-1 > Online Preparation
In this phase of the GSTR-1/IFF upgrades, the following adjustments are being made:
Before filing, the ‘Submit’ button should be removed.
The current two-step GSTR-1/IFF filing method, which includes the ‘Submit’ and ‘File’ buttons, will be replaced by a single-step filing process. The new ‘File Statement’ button will replace the current two-step filing method, allowing taxpayers to add or change records until the filing is complete simply hitting the ‘File Statement’ button.
Summary of the Data
Before submitting GSTR-1/IFF, taxpayers will now be presented a table-by-table consolidated summary. This aggregated summary will include a complete and table-by-table summary of the taxpayers’ records. Before filing, this will provide a thorough picture of the records added in GSTR-1/IFF.
Summary by recipient
The aggregated summary page will also include a recipient-by-receiver summary, which will provide the overall value of the supplies as well as the total tax for each recipient. The recipient-by-recipient summary will be made available for the following GSTR-1/IFF tables that have counter-party recipients:
In a new PDF format, taxpayers can now examine and download a complete summary of the GSTR-1/IFF. The GSTR-1 summary used to be formatted differently than the notified format, with a few tables from the notified format grouped together and made available to users. GSTR-1’s notified format has been harmonised with the new summary format. It will also include the taxpayer’s total external supplies liability (excluding reverse charge), which will be auto-populated in GSTR-3B.
The feature will be made available on the GST Portal shortly, according to the CBIC, and taxpayers will be notified.