ClearTax, India’s largest Income Tax returns e-filing and GST compliance service provider has partnered with online fashion retailer Voonik, to help them get GST ready. With ClearTax GST, Voonik will set the ball rolling for its enterprise-wide compliance process and help merchants and sellers on its platform meet GST compliance requirements. This will help in smooth and complete transition to the new taxation system from July 1st, 2017.
ClearTax GST Enterprise allows real-time vendor reconciliation and communication; tax saving through insights and automation; ensuring 100% accuracy with a comprehensive tax validation engine. With ClearTax GST Biz, sellers can create GST compliant sales and purchase invoices from day one of the GST regime, reconcile and file their GSTR forms. Since ClearTax's GST software allows real time reconciliation, Voonik will be able to regularly reconcile with suppliers. This means they don't have to worry about the 5 day window between GSTR-1 and GSTR-2. They will have more time available to make sure errors are minimal.
Commenting on the announcement, Mr. Archit Gupta, Founder and CEO, ClearTax said, “The onus of compliance is high for e-commerce operators. ClearTax’s simple solution is built to help them bring sellers on board to GST quickly and to minimize any business disruption. ClearTax GST is a powerful reconciliation tool that helps in minimizing tax loss, consolidating returns, and increasing efficiency in logistics among several other long-term benefits for the enterprise.”