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TMI BlogUpcoming GSTR-1/IFF enhancementsX X X X Extracts X X X X X X X X Extracts X X X X ..... Upcoming GSTR-1/IFF enhancements - Goods and Services Tax - GST Dated:- 23-2-2022 - News - 1. The statement of outward supplies in FORM GSTR-1 is to be furnished by all normal taxpayers on a monthly or quarterly basis, as applicable. Quarterly GSTR-1 filers have also been provided with an optional Invoice Furnishing Facility (IFF) for reporting their outward supplies to registered person ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (B2B supplies) in the first two months of the quarter. Continuous enhancements technology improvements in GSTR-1/IFF have been made from time to time to enhance the performance user-experience of GSTR-1 /IFF, which has led to improvements in Summary Generation process, quicker response time, and enhanced user-experience for the taxpayers. 2. The previous phase of GSTR-1 /IFF enhance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment was deployed on the GST Portal in November 2021. In that phase, new features like the revamped dashboard, enhanced B2B tables, and information regarding table/tile documents count were provided. In continuation to the same, the next Phase of the GSTR-1 /IFF improvements would be implemented shortly on the Portal. 3. GSTR-1 /IFF can be viewed as usual by navigating in the following ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nner : Return Dashboard Selection of Period Details of outward supplies of goods or services GSTR-1 Prepare Online The following changes are being done in this phase of the GSTR-1 /IFF enhancements : (i) Removal of Submit button before filing : The present two-step filing of GSTR-1 /IFF involving Submit and File buttons will be replaced with a simpler single- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... step filing process . The upcoming File Statement button will replace the present two-step filing process and will provide taxpayers with the flexibility to add or modify records till the filing is completed by pressing the File Statement button. (ii) Consolidated Summary : Taxpayers will now be shown a table-wise consolidated summary before actual filing of GSTR-1/IFF. This con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... solidated summary will have a detailed table-wise summary of the records added by the taxpayers. This will provide a complete overview of the records added in GSTR-1 /IFF before actual filing. (iii) Recipient wise summary : The consolidated summary page will also provide recipient-wise summary, containing the total value of the supplies the total tax involved in such supplies for eac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h recipient. The recipient-wise summary will be made available with respect to the following tables of GSTR-1 /IFF, which have counter-party recipients : - Table 4A : B2B supplies - Table 4B : Supplies attracting reverse charge - Table 6B : SEZ supplies - Table 6C : Deemed exports - Table 9B : Credit/Debit notes 4. The functionality will be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made available on the GST Portal shortly, and the same will be intimated to taxpayers. For detailed advisory sample screenshots of the upcoming GSTR-1 /IFF improvements enhancements, please click here Thanking you, Team GSTN. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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