With the implementation of GST, India is moving towards a digitised economy. Spearheading this transformation is the e-filing website ClearTax, also the country's biggest online tax platform, which today announced its partnership with Unicommerce eSolutions Pvt. Ltd., a SnapDeal company and a known name in the B2B space.
Unicommerce eSolutions provides end-to-end supply chain solutions (warehouse management, omnichannel etc.) for both online and offline merchants. Founded in 2012, the company has grown rapidly to become the "backbone of e-commerce industry" with the platform being used to process 100 mn+ orders annually, amounting to 15-20 percent of overall Indian e-commerce transactions, with presence in 220+ cities in India.
Since GST has changed tax rules for the e-commerce sector, it has now become necessary for all online marketplaces to adopt GST-compliant processes at the earliest.
Unicommerce has been making efforts to help its vendors become GST-ready, and partnering with ClearTax is the latest move in this regard. Under the aegis of this alliance, ClearTax will help Unicommerce's retailers transition smoothly to the new tax regime with the help of its flagship product ClearTax GST Software.
This customized software will help Unicommerce sellers prepare GST-compliant invoices, file returns, and adhere to TCS regulations in an easy manner.
GST is more than just a massive tax reform; experts have called it a 'behaviour change' of an unforeseen magnitude. Being GST-complaint requires a sea change in the way businesses file taxes, bill invoices, and connect with suppliers and vendors. E-tailers will also see a marked difference in tax filing post-GST.
Unicommerce has already been actively working with its sellers and other stakeholders to make them aware of the new policies and has rolled out several initiatives across channels for communication and training. The ClearTax GST Software will be a major boost for Unicommerce vendors.
"We are very excited to partner with Unicommerce. Our software has been customised to offer GST solutions to quickly onboard businesses to GST and ease compliance for them. Given our technological expertise we are committed to make GST compliance easy and smooth," said founder and CEO ClearTax, Archit Gupta.
"We have always believed in simplifying the lives of our customers, and this latest partnership with ClearTax will help our customers (e-commerce sellers) adapt to the new GST regime seamlessly, without causing any disruption to their ongoing business," said CEO Unicommerce, Kapil Makhija.
In the VAT regime, online sellers would file returns once per quarter depending on their turnover, but under GST they need to file GSTR-3B every month. Also, GSTR-1 is also required to be filed on a monthly or quarterly basis depending on the turnover.
Soon, GSTR-2 and GSTR-3 will also be introduced which will increase the amount of monthly compliances. The software solution from ClearTax offers many features which can ensure high compliance. This one-click solution can be integrated with existing ERPs and allows sellers to file their returns from various channels.
The auto fill feature of the software updates values of GSTR-3B on the GST. This means there are zero chances of error as no manual entries are required. Also, businesses can use the ClearTax GST Calculator to accurately calculate your tax liability before uploading their GSTR-3B form to GSTN Portal.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)