Overview of GSTR-1 IFF in Marg ERP Software

Process to Generate GSTR-1 IFF in Marg ERP Software

OVERVIEW OF GSTR-1 IFF IN MARG ERP SOFTWARE

• QRMP Scheme (Quarterly Returns with Monthly Payment) and want to transfer ITC to others through the Invoice Furnishing Facility in the QRMP Scheme.

• Those who opt for the QRMP Scheme have to file GSTR-1 Quarterly, and in order to transfer ITC to the receiver, the user has to file GSTR-1 on a Quarterly basis, according to the government.

• However, the user can upload the Invoices on a Monthly basis as per the requirement. This is optional so that user receiver can claim ITC.

Note: The IFF only generate on Quaterly Bases not Monthly.

PROCESS TO GENERATE GSTR-1 IFF IN MARG ERP SOFTWARE

• Firstly, go to GST >> GSTR-1. 

• If the user generates GSTR1 from the IFF of the first month of any quarter, then only B2B and Credit Note Register invoices will be generated. The rest will remain blank.

• Similarly, in the Second month of that quarter, B2B and Credit Note Registered invoices will be generated.

• At the time of generating the IFF for the 3rd quarter, if the user generates the IFF from 1st April to 30th June, then B2B, B2C Large, B2C Small, Export Sales, HSN Summary, etc., all the data will be generated.

• But the B2B and CDNR registered of 1st & the 2nd month will be skipped as they are already filled.

•  Now let’s generate the IFF for the First quarter of the first month.

• A ‘Marg GST Summary’ will appear.

• In ‘Period’ field, mention the Period.

• Suppose mention 1^st April to 30^th April 2022

• Click on 'Show'.

• Then the user will click on ‘IFF facility’ from the bottom.

• A ‘GSTR 1 IFF’ window will appear.

• In the First Quarter of the first month, the user will keep B2B and Credit Note Register invoices as selected.

• Then in whichever format user needs to convert the IFF like GSTN CSV Sheets, GSTN Excel Template, GSTN JSON File or Plain Excel sheet.

• The user will select the form as per the requirement.

• Then if the user needs to include B2B/CDNR –Nil Entries in Exempted, B2C/CDNUR – Nil Entries in Exempted or not; select these options as per the requirement.

• Then click on ‘Start’.

• An alert window will appear in which the software will ask ‘Are you sure to prepare e-return file?’

• The user will click on ‘Yes’.

• The user will view that a tick is shown in front of B2B and Credit Note. It means that if the user generates the IFF of one month then it will include B2B and Credit note only.

• And along with it, the path will be shown here on whichever location the Excel file is generated.

• The user will open the Excel file and can view that the data is generated of only B2B and Credit Notes.

Fig.1 View of B2B Data.

Fig.2 View of Cdnr Data.

Now if the user will generate the IFF quarterly like mention in the ‘Period’ field- 1^st April 2022 to 30^th June 2022.

Then click on ‘Show’.

• So, in quarterly, all the data of B2B, B2C Large, B2C Small, Export Sales, HSN, etc. will get generated. 

• Click on ‘IFF Facility’.

• A ‘GSTR 1 IFF’ window will appear.

• The user will select ‘All’.

• Then select that format in which the user needs to convert.

• Then select the options which needs to be included as per the requirement.

• Then click on ‘Start’.

• An alert message of ‘Are you sure to prepare eReturn file?’ will appear.

• Click on ‘Yes’.

• Now the user will view that the e-return has been generated.

• And along with it, location is also shown where the excel file has been saved.

• The user will open the Excel file. 

• So, the user will view that all the data i.e. B2B, B2C Large, B2C Small, Credit Note with HSN Summary except B2B and CDNR data of first and second month has been generated.

Fig 3. View of B2B Data without except first and second month.

Fig 4. View of B2C Large Data.

Fig 5. View of B2C Small Data.