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.”