Invoice Furnishing Facility (IFF)
Definition
A facility under the QRMP scheme that lets quarterly filers upload their B2B invoices in the first two months of a quarter, so their buyers can see the credit sooner instead of waiting for the quarterly GSTR-1.
Related Terms in India GST
GST Rate Finder
A lookup that maps a good or service — usually via its HSN or SAC code — to the applicable GST rate. It helps businesses apply the correct slab on invoices and avoid under- or over-charging tax.
SAC Code
The Services Accounting Code used to classify services under GST, the services counterpart to the HSN code for goods. The correct SAC determines the GST rate and is reported on service invoices and in returns.
E-Invoice Threshold
The aggregate turnover above which B2B e-invoicing is mandatory under GST, requiring invoices to be registered on the Invoice Registration Portal to obtain an IRN. The threshold has been lowered in stages and should be checked against the current notification.
GST Suvidha Provider (GSP)
An authorised intermediary that connects businesses and software to the GST Network's systems for filing returns, generating e-way bills and registering e-invoices. GSPs provide the secure API layer many compliance tools build on.
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