The Goods and Service Tax Network on 23rd February 2022 has unveiled the Upcoming GSTR-1/IFF enhancements on GST Portal. The previous phase of GSTR-1/IFF enhancement 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 has been notified bellow.
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 persons (B2B supplies) in the first two months of the quarter.
The following changes are being done in this phase of the GSTR-1/IFF enhancements :
- 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-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.
- Consolidated Summary : Taxpayers will now be shown a table-wise consolidated summary before actual filing of GSTR-1/IFF. This consolidated 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.
- 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 each recipient.
Taxpayers can now view and download detailed summary of the GSTR-1/IFF in a new PDF format. The earlier format of the GSTR-1 summary was slightly different from the notified format, in which few tables of the notified format were clubbed together and made available to the users. The new summary format has been aligned with the notified format of GSTR-1. It will also contain the total outward supplies liability of the taxpayer (other than reverse charge), to be auto-populated in GSTR-3B.
