Invoice furnishing and ITC reconciliation: IFF and auto drafted GSTR 2B revise return filing and payment timing. Amendments introduce the Invoice Furnishing Facility (IFF) for the first two months of a quarter and require outward-supply details to be furnished in FORM GSTR-1 or via IFF; supplies reported through IFF are excluded from the quarterly GSTR-1. Outward-supply data from GSTR-1, IFF, GSTR-5, GSTR-6 and import entries shall be made available to recipients and an auto-drafted monthly ITC statement, FORM GSTR-2B, will be generated for reconciliation and claiming ITC in FORM GSTR-3B.
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Invoice furnishing and ITC reconciliation: IFF and auto drafted GSTR 2B revise return filing and payment timing.
Amendments introduce the Invoice Furnishing Facility (IFF) for the first two months of a quarter and require outward-supply details to be furnished in FORM GSTR-1 or via IFF; supplies reported through IFF are excluded from the quarterly GSTR-1. Outward-supply data from GSTR-1, IFF, GSTR-5, GSTR-6 and import entries shall be made available to recipients and an auto-drafted monthly ITC statement, FORM GSTR-2B, will be generated for reconciliation and claiming ITC in FORM GSTR-3B.
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