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Online tax filing platform, ClearTax, has launched a ‘ GST Health Check’, a free tool to assist businesses filing goods and services taxes.
The tool generates a detailed report of a business’s GST health and provides data-backed GST insights to businesses which could be used to claim an accurate input tax credit, reduce the risk of penalties, avoid late fees and government notices.
Created to capture the market’s need for a comprehensive GST compliance report, the tool could also be used by Chartered Accountants and GST practitioners, who file returns for multiple businesses and are currently busy with GST checks for their clients.
Also read:ClearTax raises $50 million from Composite Capital
“Awareness and education are critical to getting more businesses to comply with GST. That’s why we have launched the ClearTax GST compliance health checker open to all for free. It was created after consultations with Chartered Accountants and tax experts and developed to simplify the process of identifying gaps in GST returns for the financial year. Currently, there is no simple way to identify and fix these gaps and most of this work is being done through cumbersome and inefficient Excel files” Archit Gupta, founder and CEO, ClearTax told BusinessLine .
The GST Health Check tool has been integrated into ClearTax’s GST product so that it is readily usable by all its existing users of over 200,000 businesses. It shows the user the filing status of the GST returns for the previous six months.
It also provides a comparative analysis between the various reports such as GSTR-3B vs GSTR-1, GSTR-3B vs GSTR-2A. ClearTax is also providing a helpline through which their GST experts will understand and help resolve the issue.
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