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CMA Final · Indirect Tax Laws and Practice · Walkthrough of GSTN Portal

Which of the following correctly describes the Invoice Furnishing Facility (IFF) on the GST portal?

The Invoice Furnishing Facility allows a taxpayer under the quarterly return monthly payment scheme to upload B2B outward supplies in the first two months of a quarter, so that recipients see them in their auto-drafted statement and can claim input tax credit earlier.

  1. AIt lets a quarterly-return (QRMP) taxpayer upload B2B outward supply details in the first two months of the quarter so recipients can claim creditCorrect
  2. BIt lets any taxpayer furnish inward supplies to claim refund of cash ledger
  3. CIt is a facility to generate e-way bills for exempt supplies
  4. DIt is used to file annual returns for composition dealers

Explanation

Under the QRMP scheme a taxpayer files returns quarterly but can use IFF in the first and second months to report B2B supplies to registered persons, subject to a monthly value limit. This gives recipients timely credit in Form GSTR-2B. The other options describe functions unrelated to IFF.

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