ClearTax launches GST Health Check Compliance tool; avoid late fees, govt notices, claim accurate input tax credit

GST filing for the previous financial year is around the corner, and most businesses are looking for solutions to identify and fix any gaps that exist in GST filing for the year.

ClearTax which is India's leading tax, finance, and compliance solutions provider, has launched a new ‘GST Health Check’ tool. Photo: PTI

ClearTax which is India's leading tax, finance, and compliance solutions provider, has launched a new ‘GST Health Check’ tool. This 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. GST filing for the previous financial year is around the corner, and most businesses are looking for solutions to identify and fix any gaps that exist in GST filing for the year.

Presently, there exists no simple way to identify and fix these gaps with most of this work being done through cumbersome and inefficient Excel files. Similarly, Chartered Accountants and GST practitioners, who file returns for multiple businesses, are undergoing the stress of doing these checks for multiple clients.

Based on these observations and in consultation with CAs and tax experts, ClearTax's latest tool has been created to capture the market’s need for a comprehensive GST compliance report and developed primarily to simplify the process of identifying gaps in GST returns for the financial year.

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Archit Gupta, Founder, and CEO, ClearTax said, “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.”

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The ‘Health Check’ tool generates various reports that will help simplify the GST filing process. It will show the user the filing status of the GST returns for the previous 6 months.

Apart from this exhaustive history, it will also provide a comparative analysis between the various reports such as GSTR-3B vs GSTR-1 (tax difference on monthly basis), GSTR-3B vs GSTR-2A (ITC difference for every month). With these comparative analyses, the user will be able to discover discrepancies and save valuable time and money.

"A business can easily learn about their tax dues, late fees and penalties related to timely payment to avoid potential government notices. To make the process simpler, businesses can also generate an editable excel for further analyses," says ClearTax.

This tool aims to reduce the compliance burden of our clients and helps generate an efficient, straightforward analysis with just a click. This tool has been integrated into the company's GST product so that it is readily usable by all users. ClearTax is also provides a helpline through which their GST experts will understand and help resolve the issue.

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