ClearTax, the SAIF Partners-backed online tax filing software startup, has today announced the launch of its software which will help dealers and retailers in preparation of tax returns filing under the Goods and Services Tax (GST) regime.
The ClearTax GST software prevents mismatches and has separate versions for CAs and Enterprises — GST Pro and GST Biz. In a statement, the company says that it reinforces ClearTax’s commitment to simplify indirect taxes after taking a lead in simplifying direct taxes.
Commenting about this new development, ClearTax Founder & CEO Archit Gupta said,
We spoke with a vast range of enterprises and small businesses about their needs. We want to bring the same ease to filing for indirect taxes and help businesses become GST compliant.
The GST Biz software is aimed at businesses who want to become GST compliant and allows real-time data visibility, customized reporting and tracking between businesses. The GST Pro is being launched for chartered accountants and tax professionals who can use it for GST compliance and GST return filing for their clients.
The company claims to have collaborated with over 20,000 chartered accountants from over 100 cities in the pilot phase to use the software and get hands on experience before the GST filing starts.
Apart from the software, the startup is also offering online GST-training courses for CAs, lawyers and tax professionals through videos, case studies, webinars and quizzes prepared by industry experts.
Touted as the single biggest tax reform since Independence, the Goods and Service Tax (GST) will come into force from July 1 and will subsume 16 different taxes including excise, service tax, VAT, etc.
Archit Gupta formed ClearTax in 2011, along with his CA father Raja Ram Gupta, Srivatsan Chari and Ankit Solanki. The company helps individuals file their income-tax returns online in as much less time as possible.
Last year, the company raised $12 million in Series A funding from SAIF Partners. Prior to that, it had raised $2 million in pre-Series A round from Peter Thiel’s Founders Fund, and $1.3 million in its seed round from various angel investors, including Andreessen Horowitz.