ClearTax launches Billbook to help in GST compliance

BENGALURU: Tax-filing portal ClearTax, which is proactively focusing on its role as an application service provider for the upcoming Goods and Services Tax ( GST) regime, has launched a software platform that works as a billing solution both online and offline, called Billbook.

The company is targeting the product at millions of small businesses, self-employed professionals and entrepreneuers to get ready for GST.

"The Billbook for SMEs is a completely electronic solution to help these businesses do GST compliance in the simplest manner with minimum interventions. This will ensure that compliance does not impede the growth of their business," CEO Archit Gupta said.

ClearTax had last week launched it software to help dealers and retailers in preparation of tax returns, with separate versions for enterprises and chartered accountants.

The GST Billbook is an additional tool by the company to make creating and recording bills easier, Gutpa said.

The Billbook will automatically identify IGST or SGST in the invoice and will also help the small business with creating sales bills, recording purchases and expenses under GST. The GST Billbook is also designed to accommodate business scenarios such as operating in different states in India, or engaging in imports and exports or B2B or B2C billing. The software has the competency to handle debit/credit notes and advance payments.