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

ClearTax 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.

Archit Gupta, Founder & CEO, ClearTax, said, “Today, CAs and businesses find it challenging to understand and implement GST. We have realized that users get error messages while filing nil GST returns. Hence in order to simplify their financial lives, we have launched a reliable return filing that will help CAs as well as Businesses to file a nil GST return filing in a convenient manner and thus help them comply with GST norms with ease.”

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.