Mail to a Friend
Rate      

ClearTax launches ‘Quick GSTR-9’ product for speedy GSTR-9 filing



2019-09-19 12:17:19 Business

222


Bangalore - June 19, 2019: Bangalore based Financial-Technology platform ClearTax, has announced a ‘Quick GSTR-9’ product for GSTR-9 compliance. This product is tailored for less complex businesses to help them finish filing in under 10 minutes. It can populate GSTR-9 return form using the GST portal’s auto-computed GSTR-9 summary and the data from GSTR-3B filed by the business; resulting in a 5x productivity improvement as compared to the portal itself.

Tax consultants usually have more than 50 businesses for which they need to prepare and file GSTR-9. GSTR-9 is a complex return form, and tax consultants are struggling to put together the information required for their clients. Since the deadline for GSTR-9 is fast approaching, businesses and tax practitioners are pressed for time to finalize their GST returns. They need to focus on current financial year compliance as well. Simpler businesses have fewer transactions and their filing should be simple and less complex. To help consultants file GSTR-9 quickly and leaving more room for compliance for complex businesses, ClearTax has launched a new ‘Quick GSTR-9’ product in its GSTR-9 module. This product ensures ITC is claimed as per GSTR-3B, by doing a critical comparison between GSTR-9 auto computed values (based on GSTR-1) and GSTR-3B.

‘Quick GSTR-9’ will fill more tables in GSTR-9 form than what the portal can do and it also has a checklist that can be used to do a fast review. It can be used for filing for businesses that belong to the service sector and have fewer complexities; have exempted supply or purchase, have no difference in GSTR-1 & GSTR-3B or those who have only a few transactions, are new businesses or are required to file nil returns.

ClearTax is also offering its other intelligent features in the ‘Quick GSTR-9’ product. It has a specifically tailored reduced version of ClearTax’s 5-point checklist to help a faster review for a CA. Besides, users can switch to full scale mode at any point in filing process. Full scale mode enables ClearTax’s 19 point checklist for validating GSTR-9 filing, detailed Excel tool download with data of GSTR-1 & 2A reconciled for FY17-18, monthly comparison of both GSTR-1 and GSTR-3B returns with financial statements, and more.

Speaking at the launch Archit Gupta, Founder and CEO, ClearTax, said “ We saw how pained CAs were with GSTR-9 filings. The launch of ‘Quick GSTR-9’ was the outcome of our interactions and deep work with CAs and tax consultants, who expressed the desire to have a fast and easy product for filing of businesses which were not complex. They wanted that the results should also be quickly verified. Our checklist helps in making sure data prepared is accurate. It is helping CAs manage their time and resources better. This super easy and quick filing makes ClearTax’s ‘Quick GSTR-9’, the best possible way to file GSTR-9 for simple businesses.”


About ClearTax

ClearTax is India’s fastest growing Tax & Compliance software company. It is a technology company that helps people, enterprises and the government with tax, compliance and mutual fund investments. ClearTax was incubated at Y Combinator. It is funded by Silicon Valley investors, including PayPal co-founders Peter Theil’s Founders Fund, Max Levchin and also by Scott Banister, who was an early investor in Facebook and Uber. ClearTax’s investors include Composite Capital, Sequoia Capital and SAIF Partners. ClearTax is a product by Defmacro Software Pvt Ltd.

Company :-Value 360 Communications

User :- Sushma Singh

Email :-sushma.singh@value360india.com


forpressrelease



Related Post

Advertisement

Go to Assignmentgeek.com and get your homework done.
BuyEssaysCheap.com - affordable writing help

Sponsored News Release

You can get any paper written by hiring WriteMyPaperHub.com online.