ClearTax launches feature of Nil GST Return Filing for CAs and Businesses

Ashwini Ashwini
Dec 21, 2019 2 min read
ClearTax launches feature of Nil GST Return Filing for CAs and Businesses

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ClearTax, India’s #1 Tax & Investing platform today announced the launch of its new feature called Nil GST Return filing, a unique feature that will help CAs and businesses do their Nil GST Return filing in just a few seconds.

Currently, every month over 20 Lakh small businesses including MSMEs file Nil GST returns in India, the majority of them through CAs and the rest on their own. Such small businesses would want a simple filing process in place and therefore Cleartax Nil GST returns feature aids them in filing Nil returns within 30 seconds.

All that the user has to do is download ClearTax GST Desktop App. Once installed, ClearTax GST Desktop App will help users with seamless filing of GSTR-1 and GSTR-3B in minimal steps. Thus, a taxpayer can avoid all unnecessary interactions with any other portal, as everything is available on the ClearTax GST software including submission of returns. Users can file GSTR-1 with minimal manual effort and directly on ClearTax supported by both Digital Signature Certificate (DSC) or Electronic Verification Code (EVC). It automates the entire process and makes it 3 times faster and saves ample time. The ‘Nil return filing’ feature comes with important validations and a cautionary window too to allow users to reconsider their filing of GST returns with no data. Hence, it will stop users from erroneously submitting a Nil return which otherwise was not one.

All taxpayers having GST registration are required to file GSTR-1 return either monthly or quarterly, as the case may be irrespective of business turnover or profitability during that period. The GSTR-1 return contains details of all outward supplies made during the tax period. In case of no outward supplies, a dealer still has to file a nil GSTR 1. Once the GSTR 1 is filed, the user has to file nil GSTR-3B in case of no outward supplies, no purchases, and no tax liability. If a nil return in GSTR-1 or GSTR-3B is not filed, a penalty of Rs.20 per day (for GSTR-1) and Rs. 20 per day (for GSTR-3B) is leviable until the return filing is complete. Hence, all taxpayers having GST registration must submit Nil GST return in case of no transactions before the deadline.

About ClearTax

ClearTax’s mission is to simplify the financial lives of Indians. We are a financial-technology platform company providing software and services including Tax filing, TaxCloud, TDS Returns, GST, Mutual Fund Investments and CA & legal services, designed to empower individuals, accountants, and MSMEs. We aim to ease and simplify their financial woes. Our platform has served over 5 Million Indian Taxpayers to e-File their Tax Returns, about 6 lakh businesses, 60000 CAs and tax professionals, and over 1,000 large enterprises have utilized our GST Software for GST-compliant billing and filing returns. ClearTax has raised $65 Million equity capital investment since inception. The company was incubated in Y Combinator and is funded by Silicon Valley investors, including PayPal co-founders Peter Thiel’s Founders Fund, Max Levchin, and Scott Banister. ClearTax’s investors include Composite Capital, Sequoia Capital, and SAIF Partners.

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